New Delhi, Jumada II 4, 1432, May 7, 2011, SPA -- India on Friday welcomed the reconciliation agreement between Palestinian factions - Fatah and Hamas and hoped that it will promote the "realization of aspirations" of the Palestinian people and lead to peace in the region. "Government of India welcomes the reconciliation agreement between Fatah and Hamas and hopes that this would promote the realization of aspirations of Palestinian people," said a statement issued by the Ministry of External Affairs. The Government also hoped that the agreement will lead to peace and stability in the region, the statement was quoted as saying by the Press Trust of India (PTI). Fatah and Hamas on Wednesday signed the landmark deal. Palestinian President Mahmud Abbas and Hamas leader Khaled Meshaal reached the agreement which provides for creation of a joint caretaker Palestinian government ahead of the national elections next year. --SPA 11:42 LOCAL TIME 08:42 GMT www.spa.gov.sa/890335