The Indian government on Wednesday welcomed the ceasefire reached between Israel and Lebanon's Hezbollah which temporarily ended the ongoing conflict between the two sides.

"We welcome the ceasefire between Israel and Lebanon that has been announced," read a statement issued by the Ministry of External Affairs.

"We have always called for de-escalation, restraint and return to the path of dialogue and diplomacy. We hope these developments will lead to peace and stability in the wider region," the statement said.

Bringing a halt to a 13-month conflict, Israel and Lebanon have accepted the US-backed ceasefire deal.

Fighting escalated in September when Israel intensified bombing and launched a limited ground invasion.

"Under the terms of the ceasefire, Israeli forces will withdraw from Lebanon within 60 days, while Hezbollah forces will be replaced by Lebanese army forces in the south of the country over the same period," BBC reported.

In a statement, the White House said: "Today, after many weeks of tireless diplomacy, Israel and Lebanon have accepted a cessation of hostilities between Israel and Lebanon."

"The announcement today will cease the fighting in Lebanon, and secure Israel from the threat of Hezbollah and other terrorist organizations operating from Lebanon," the statement said.

The White House said this announcement will create the conditions to restore lasting calm and allow residents in both countries to return safely to their homes on both sides of the Blue Line.

"The United States and France will work with Israel and Lebanon to ensure this arrangement is fully implemented and enforced, and we remain determined to prevent this conflict from becoming another cycle of violence," the statement said.

"The United States and France also commit to lead and support international efforts for capacity-building of the Lebanese Armed Forces as well as economic development throughout Lebanon to advance stability and prosperity in the region," the statement said.