Obama said during an Oval Office meeting with Prime Minister Manmohan Singh that he is "very hopeful for the prospects of what can be accomplished."
He applauded the framework that is legally binding, verifiable and enforceable. He argued that his threat of military strikes was crucial to reaching the agreement, but he always preferred a diplomatic solution.
"I have always expressed a preference for resolving this diplomatically," Obama said.
Obama hailed the resolution and disarmament plans as a "legally binding" and "verifiable" initiative which threatens consequences if Syria did not adhere to conditions.
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The proposal does not call for force, which would require a second resolution if Syria fails to comply.
Obama said there are still questions about Syria's follow-through, as well as the technical details of removing chemical weapons in the midst of Syria's civil war.
"Obviously, there's a lot of work to be done," he said.
In late August, Obama discussed the possibility of military action against Syria over an alleged August 21 chemical weapons attack on anti-government rebels. Obama later said he would seek US Congressional approval for a military strike.
Singh said he welcomes Obama's move to give diplomacy a chance on Syria.