New Delhi, June 16 -- The peace deal between the US and Iran to end their 108-day conflict is expected to pave the way for the reopening of the Strait of Hormuz, bringing significant relief to global trade and India's export sector, EEPC India said on Tuesday.

The Strait of Hormuz is a critical energy corridor for India, handling nearly 50 per cent of the country's crude oil imports, around 70 per cent of LPG imports and close to 90 per cent of LNG supplies.

The disruption in shipping through the Strait had led to route diversions, longer transit times and higher logistics costs, adversely affecting trade flows, particularly with the West Asia and North Africa (WANA) region.

EEPC India said that engineering exports to the WANA region d...