India Welcomes US-Iran Deal, Ajit Doval Sees Relief for Energy, Trade: 'Got Cautious Optimism'

India on Wednesday welcomed the memorandum of understanding (MoU) reached between the United States and Iran following the talks in Switzerland, with National Security Advisor Ajit Doval expressing "cautious optimism" over the development and its potential impact on global energy and trade flows.Speaking at the 16th BRICS National Security Advisers' Meeting, Doval said the agreement could play a significant role in stabilising energy markets and easing supply-side disruptions."India welcomes the MOU reached between the US and Iran. We have got cautious optimism, and we hope that it will work. It will help energy security," Doval said. Highlighting the strategic importance of maritime routes, Doval termed the opening of the Strait of Hormuz a “very

welcome development,” noting that it would help remove critical supply chain bottlenecks."The opening of the Strait of Hormuz is a very welcome development. It will remove supply chain bottlenecks and many of the shortages in the field of say, fertilisers and chemicals, etc, will be met with. And the freedom of navigation that will be available to the countries in the region and beyond will probably also greatly improve our economic prosperity," Doval added.Doval said, "We are meeting at a very tumultuous time. The world is beleaguered by military conflicts and complex security problems. It is facing geopolitical uncertainties, economic strains, and disruptive technology. Not only that the threats are compounding, but the instruments and institutional mechanisms are increasingly finding themselves to be inadequate to resolve or mitigate these conflicts. Multilateralism is on the decline."" BRICS was conceived as an informal grouping of emerging economies in a more multipolar world order. It was to advance economic cooperation and strengthen the voice of the Global South. It also envisioned reforms in global governance and institutional improvements. BRICS is a very special coalition of countries that believe in peace, progress, development, and cooperation. I'm happy to see that it is gaining strength day by day..." he added.