The Ministry of External Affairs (MEA) expressed hope that this development would pave the way for safe and sustained humanitarian assistance to Gaza.

"We welcome the announcement of the agreement for the release of hostages and a ceasefire in Gaza. We hope this will lead to a safe and sustained supply of humanitarian assistance to the people of Gaza," the MEA stated.

India reiterated its consistent stance, advocating for the release of hostages, a ceasefire, and a return to dialogue and diplomacy.

"We have consistently called for release of all hostages, ceasefire, and return to a path of dialogue and diplomacy," the statement added.

The ceasefire agreement was brokered through weeks of negotiations in Doha by Qatar, Egypt, and the US.

Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani announced that 33 Israeli hostages would be released in the first 42-day phase, which could potentially evolve into a permanent ceasefire.

The initial release prioritises women, children, elderly individuals, and those who are ill or injured.

US President Joe Biden confirmed the crucial development on Wednesday at a briefing, saying "it is a very good afternoon now". He said: "Soon, the hostages will return home to their families."

Biden said that Israel would release Palestinian prisoners in return.

The US President said that during the first phase of the ceasefire deal, "Palestinians can return home to their neighbourhoods and humanitarian assistance in the Gaza Strip will increase".

Biden also said that Israel and Hamas will negotiate the necessary arrangements in phase two for what would be the permanent end to the war.

During the ceasefire, Israeli forces are expected to withdraw from densely populated areas of Gaza to facilitate prisoner exchanges, the return of displaced individuals, and the retrieval of remains.

The conflict, which began on October 7, 2023, has resulted in devastating casualties.

Hamas' attack on southern Israel killed about 1,200 people and led to the abduction of approximately 250 individuals. Israel's subsequent offensive in Gaza has caused over 46,000 Palestinian deaths, as reported by the Hamas-run Health Ministry.

The ceasefire is scheduled to take effect on Sunday at 12:15 pm local time, subject to approval by Israel's Cabinet and Supreme Court.