Conflict of interest accusations surround UK PM Rishi Sunak ahead of G20 India visit

British Prime Minister Rishi Sunak faces a fresh conflict of interest dispute ahead of his upcoming visit to India for the G20 summit next month. Allegations have emerged that his family stands to gain financially from an ongoing post-Brexit trade agreement negotiation between the two nations.

Throughout this year, negotiations have been underway between India and the UK for a free-trade deal. Concerns have been voiced by trade experts and lawmakers regarding potential 'transparency' concerns surrounding the shareholdings of Sunak's wife, Akshata Murty. Her holdings, valued at nearly $500 million, are in Infosys, the IT company founded by her father NR Narayana Murthy, based in Bengaluru.

In May, the valuation of Infosys reached approximately $63 billion. The substantial wealth amassed by Sunak and his wife is largely attributed to this IT firm.

Infosys, which has maintained contracts with the UK government and various companies within the country, aims to enhance the accessibility of its numerous contract workers to the UK through modifications in the country's visa regulations. This development was reported by The Observer, a publication affiliated with The Guardian.

In the context of the proposed trade deal, the allocation of visas to workers in fields like IT and artificial intelligence is a crucial demand from India during the pact negotiations. Conversely, the UK is pushing for reductions in high tariffs on Indian exports, encompassing products such as automobiles and Scotch whisky.

The Labour Party, in opposition, has called for increased openness and transparency from Sunak regarding his wife's financial stakes. There are concerns that Infosys might benefit from the potential trade agreement. One specialist suggested that the British Prime Minister should recuse himself entirely from the trade discussions.

Darren Jones, chair of the business and trade select committee within the Labour Party, stated, “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.”

Given the sensitivity surrounding the trade negotiations, the UK Foreign Office has cautioned the committee against conducting a visit to India this autumn to scrutinise potential matters linked to the agreement.

Jones was quoted by The Observer as saying, “The committee was advised by the government that it would be better to visit India next year instead of during sensitive trade negotiations.”