New Delhi, May 12 -- Cautious optimism has begun to seep in across Indian trade, industry, and economic circles amidst a fragile calm spawned by a ceasefire between sparring neighbours India and Pakistan.

After intense border hostilities threatened to choke economic activity in key manufacturing and export hubs in the northern and western parts of the country, the ceasefire has brought a measure of relief to industry, four people directly involved in trade and related policy matters told Mint.

The closure of at least 32 civilian airports across northern and western India in recent days and heightened checks at ports had started to disrupt trade flows and triggered an exodus of migrant workers from key industrial hubs. Traders are now ho...