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"We welcome the decision of President Mubarak to step down in deference to the wishes of the people of Egypt," SM Krishna, External Affairs Minister said in a statement.
"We also welcome the commitment of the Supreme Council of the Armed Forces to ensure a peaceful transition of power in a time bound manner to establish an open and democratic framework of governance."
India is "proud of our traditionally close relations with the people of Egypt and wish them peace, stability and prosperity," he said from the United Nations where he was visiting for talks.