Current Events Current Affairs Analysis
OnMay 6, 2025, India and the United Kingdom concluded ahistoric multi-billion-pound Free Trade Agreement (FTA)and aDouble Contribution Convention, aiming to double bilateral trade and deepen economic integration.
AFree Trade Agreement (FTA)is abilateral or multilateral pactbetween countries to reduce or eliminatecustoms duties and non-tariff barrierson the majority of traded goods and services.
FTAs facilitate:
oDuty-free accessto partner markets
oRegulatory simplification
oCross-border investments
oMobility of professionals
oPreferential treatmentover non-FTA competitors,
Globally, over350 FTAsare operational, with most countries party to at least one.
Background of the India–U.K. FTA:
Negotiations began inJanuary 2022after Brexit, symbolising U.K.’s independent trade ambitions.
Talks were delayed due to frequent political transitions in the U.K. and elections in both countries.
After14 rounds of negotiations, the agreement was finalised in May 2025, followed by a conversation betweenPM Narendra ModiandPM Keir Starmer.
The agreement now awaitslegal vetting and ratification by the British Parliament.
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