Finance
According to media reports, UK Prime Minister Rishi Sunak faces a new conflict of interest row ahead of the G20 meeting in New Delhi next month over suspicions that his family could benefit financially from a post-Brexit trade pact he is negotiating with India.
According to The Guardian, MPs and trade experts are concerned at the highest levels of government about potential “transparency” issues relating to his wife Akshata Murty’s shareholding – worth nearly 500 million pounds – in the massive Bengaluru-based international IT services and consultancy company Infosys.
On Saturday night, Labour and the chair of the all-party House of Commons business and trade select committee urged Sunak to be more forthcoming about his wife’s financial interests, considering that Infosys could be a key beneficiary of any agreement. One leading expert said he should recuse himself from the trade negotiations altogether.
“As the prime minister recently learned, it’s critical he declares any interests properly,” said Darren Jones, Labour’s chair of the business and commerce select committee. I expect him to do the same with the India trade pact.”
The calls come after former culture secretary Nadine Dorries, a vociferous critic of the prime leader, resigned as an MP, according to The Guardian.
Sunak will attend the G20 conference in New Delhi in two weeks and is anticipated to discuss the UK-India trade negotiations with India’s prime leader, Narendra Modi, in a separate bilateral meeting.
According to The Guardian, Trade Secretary Kemi Badenoch traveled back from India this weekend after holding rigorous talks on the potential contract.
Infosys, which has contracts with the British government as well as numerous UK enterprises, is known to want to increase access to the UK visa framework for its many thousands of contract workers.
Allowing additional visas for its workers in industries such as IT and artificial intelligence is a key Indian demand in free-trade discussions. The UK, for its part, is attempting to reduce hefty duties on Scotch whiskey and automobile exports to India, according to The Guardian.
Source: IANS
