The verse in Deuteronomy 14:2 states that the Jewish Nation which received the Torah at Mt. Sinai is the “Chosen People”. Rabbi Lord Immanuel Jakobovits, former Chief Rabbi of the United Synagogue of Great Britain, describes the significance of being “chosen” in this way:
Yes, I do believe that the chosen people concept as affirmed by Judaism in its holy writ, its prayers, and its millennial tradition. In fact, I believe that every people - and indeed, in a more limited way, every individual - is "chosen" or destined for some distinct purpose in advancing the designs of Providence. Only, some fulfilltheir mission and others do not. Maybe the Greeks were chosen for their unique contributions to art and philosophy, the Romans for their pioneering services in law and government, the British for bringing parliamentary rule into the world, and the Americans for piloting democracy in a pluralistic society. The Jews were chosen by God to be 'particular unto Me' as the pioneers of religion and morality; that was and is their national purpose.