New Delhi, May 9 -- History has a strange way of playing out old patterns in new forms by taking into account exigencies of the time. India and the UK concluded talks on a free trade agreement (FTA) on 6 May.

Historically, the relationship between both countries has been predicated on trade, with the passage of time determining the necessary changes required to reflect shifting terms of trade. After East India Company lost its trade monopoly 17-18 decades ago, British exporters had easy access to the Indian market, while we faced barriers; the power equation has changed dramatically since 1947.

Also Read: Mint Quick Edit | An India-UK FTA at long last!

The new trade pact, a clear win-win, is a historic achievement for both nations, esp...