India appears to be shifting gears in its engagement with the developed economies, the template for which can be seen in the new bilateral trade agreement entered into with the United Kingdom. In the works since the previous Labour regime, the pact was signed by the new dispensation, indicating a bipartisan commitment to strengthening economic integration between the two nations.
The India, UK FTA
This FTA marks a significant milestone in India’s engagement with major developed economies and reflects a shared commitment to strengthening economic integration. As the world’s fourth- and sixth-largest economies, respectively, India and the UK’s bilateral engagement holds global economic significance and could pave the way for similar agreements with other major economic powers.
NSE CEO Ashish Kumar Chauhan Hails India-UK Trade Deal
Hailing this significant event, Ashish Kumar Chauhan, MD and CEO, National Stock Exchange, said that he was honoured to be present to witness the signing of the Free Trade Agreement between India and the UK, in the presence of Prime Minister Narendra Modi and UK Prime Minister, Keir Starmer. “Honoured and privileged to be a witness to the signing of Free Trade Agreement between India and the UK on July 24, 2025 with Honourable PM of India and Honourable Pm of UK at the country resident of UK PM Chequers outside London, UK,” Chauhan said in a post on social media platform X.
In a plethora of interactions with the media, the NSE chief said that India already had an FTA with Australia, but this new deal with the new Labour government was originally in the works during the previous Conservative government. At a time when China was flexing its economic muscle to script a new world economic order and the US and EU were trying to retain their influence, India has come into play, at the right place and the right time.
The FTA was signed by Commerce and Industry Minister Piyush Goyal and Secretary of State for Business and Trade Jonathan Reynolds. The bilateral trade between the two countries at present is valued at nearly USD 56 billion, and the two sides envisage it to double by 2030.
