It also said New Delhi was working on a package of assistance for the suffering people of Palestine, especially Gaza strip, and would announce it shortly.
Expressing deep concern and anguish at the recent events in the region, the External Affairs Ministry said India had followed the developments in Gaza and the West Bank with ''deep concern and anguish.'' ''The misery and hardship faced by the people of Palestine, especially in the Gaza strip, is deplorable,'' the Ministry said in a statement.
It condemned the use of force on the civilian population of Palestine and called upon all sides, including Israel, to exercise restraint.
''Recent moves by the Egyptian Government to address humanitarian needs through dialogue including among the Palestinian groups, deserve support,'' the Ministry said.
It, however, cautioned that peace could not wait much longer and threatened to become a casualty in the region and for its peoples, irrespective of boundaries, cultures and history.
It said the time to act is now with trust and understanding for a new beginning of hope and fulfilment and an end to violence.
''It is imperative that normalcy be restored expeditiously so that the aspirations of the peoples in the region are realised,'' the statement added.
It also said in addition to the assistance already delivered by India to the people of Palestine, New Delhi was ready to extend additional assistance to help the people of Palestine to overcome the suffering they are facing now.
''A package of such assistance is being worked out and will be announced shortly,'' the Ministry said, asserting that India stood ready to help the peace process move forward.
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