NEW DELHI, June 15 -- A US-Iran breakthrough easing tensions around the Strait of Hormuz is expected to improve India's trade and energy outlook, with exporters and industry groups expecting lower freight costs, steadier supply chains and reduced volatility in Gulf-linked markets.

The development comes as India prepares to release its May merchandise trade data, offering a timely snapshot of export performance as risks to key shipping lanes and energy prices ease after months of disruption in West Asia.

For nearly three months, tensions in the region had unsettled the Strait of Hormuz, one of the world's most critical maritime chokepoints for energy and trade flows. An estimated 40-45% of India's crude oil imports and a higher share of ...