Rishi Sunak is currently facing a fresh conflict of interest controversy just ahead of the upcoming G20 summit in New Delhi. Allegations have emerged that his family could potentially gain financially from a post-Brexit trade agreement that he is negotiating with India.
Throughout this year, both India and the UK have been engaged in discussions to establish a free-trade deal between the two nations. However, concerns have been voiced by trade experts and members of parliament regarding possible lack of transparency in relation to the significant shareholdings, amounting to nearly 500 million—held by Rishi Sunak’s wife, Akshata Murty, in Infosys. This particular IT company, based in Bengaluru, was founded by her father, NR Narayana Murthy.
Labour Party calls for transparency from Sunak
Infosys, which has had contracts with the UK government and companies there, is keen to improve access to the European country for its thousands of contract workers through changes in the UK visa regime.
In the ongoing negotiations for the potential trade agreement, an essential request from India pertains to the issuance of visas for professionals in fields like IT and artificial intelligence. Conversely, the UK is pushing for significant reductions in the high tariffs applied to Indian exports, which encompasses products such as automobiles and Scotch whisky.
In response to these developments, the opposition Labour Party has called for increased openness and transparency from Sunak regarding his wife’s financial stakes. This request comes in light of concerns that Infosys might gain advantages from the envisaged trade deal. Notably, an expert has suggested that the British Prime Minister consider abstaining from the trade discussions altogether.
“As the Prime Minister recently learned, it’s important he declares any interests properly. I expect him to do so in respect of the India trade deal too,” said Darren Jones, the Labour chair of the business and trade select committee.
