Could the India-UK FTA Signal More Trade Agreements Under PM Modi?
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Synopsis
The recent India-UK Free Trade Agreement heralds a promising future for international trade partnerships. With strong support across political lines, this pact could lead to additional agreements with major economies. Discover how this deal benefits Indian professionals and sets a precedent for future FTAs.
Key Takeaways
- India-UK FTA marks a significant milestone in trade relations.
- The agreement could lead to more FTAs with major economies.
- Indian professionals benefit from tax exemptions in the UK.
- Extended professional stays in the UK are facilitated by the new visa framework.
- The FTA aims to enhance cooperation in high-tech sectors.
London, July 25 (NationPress) Ashish Kumar Chauhan, the Managing Director and CEO of the National Stock Exchange (NSE), stated on Friday that the significant India-UK Free Trade Agreement (FTA) serves as a precursor to numerous other trade agreements anticipated in the near future, guided by the leadership of Prime Minister Narendra Modi.
During an interview with IANS, Chauhan mentioned that discussions regarding the India-UK FTA have been in progress for approximately three to four years.
“When negotiations initially commenced 4–5 years ago, the UK was under a Conservative government. Despite subsequent regime changes, the support from both the Conservative and Labour parties for finalizing the FTA is commendable,” he asserted.
Chauhan believes that the India-UK FTA will open doors for similar trade agreements with other countries, including the US, EU, and Japan, in the near future.
India is striving to finalize a free trade deal with the EU by the end of 2025. The upcoming months are pivotal for India’s international trade relations as the government intensifies negotiations with key partners such as the EU and the ASEAN bloc. Meanwhile, discussions with the US are also accelerating.
“The global community has witnessed the remarkable advancements India has made over the last 11 years under PM Modi, and this FTA will usher a brighter future for numerous industries,” stated the NSE CEO.
Chauhan also pointed out that the landmark agreement provides significant relief to Indian professionals in the UK, who will now be exempt from paying social security tax for up to three years, leading to estimated annual savings of Rs 4,000 crore.
“The revamped visa framework allows for extended professional stays in the UK. This agreement sets a benchmark for future FTAs with other economies such as the US, EU, and Japan, dismantling longstanding trade barriers and fostering collaboration in high-tech exports, mobile manufacturing, and semiconductors,” concluded Chauhan.
Point of View
The India-UK Free Trade Agreement represents a strategic move in enhancing India's global trade relations. With the government focusing on expanding partnerships with key economies, this initiative aligns with the nation's approach to fostering economic growth and collaboration.
NationPress
26/07/2025
Frequently Asked Questions
What is the significance of the India-UK FTA?
The India-UK FTA is significant as it opens avenues for future trade agreements with other nations and provides benefits to Indian professionals in the UK.
How long were the negotiations for the India-UK FTA?
Negotiations for the India-UK FTA lasted around three to four years.
What benefits does the FTA bring to Indian professionals?
The FTA exempts Indian professionals in the UK from social security tax for up to three years, resulting in substantial savings.
What other countries could India pursue trade agreements with?
India is likely to pursue trade agreements with countries like the US, EU, and Japan following the India-UK FTA.
How does the FTA impact India's global trade strategy?
The FTA is a crucial part of India's strategy to strengthen global trade relations and enhance economic cooperation.
