India-UK FTA involves conflict of interest with Rishi Sunak’s wife Akshata Murthy’s Infosys shares

UK Prime Minister Rishi Sunak, is currently dealing with a fresh conflict of interest just days before the G20 conference in New Delhi. The dispute stems from concerns over questions around his wife, Akshata Murthy’s Infosys shares, a sizable international IT services and consultancy firm with its headquarters in Bengaluru. The shares are estimated to be worth 500 million pounds and are involved in a potential free trade deal (FTA) with India, according to a report by The Guardian.

According to the report, Infosys might be a major beneficiary of any agreement reached with India, and on August 26 Labour and the chair of the all-party House of Commons business and trade select committee urged Sunak to be more transparent about his wife’s financial interests.

Darren Johns, the Labour chair of the business and trade select committee, suggested that the British PM withdraw entirely from the trade negotiations.

“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,"The Guardianquoted Jones as saying.

This latest step comes after Nadine Dorries, a former cultural secretary and strong critic of Sunak, finally submitted her letter of resignation from the House of Commons.

In a separate bilateral meeting with his Indian counterpart Narendra Modi, Sunak, who is scheduled to attend the G20 Summit in Delhi in September, is anticipated to address the trade negotiations between the UK and India.

Trade Secretary Kemi Badenoch returned from India this past weekend after having lengthy discussions about the potential FTA.

Sunak had unintentionally failed to properly declare his wife’s shareholding in the child-minding business Koru Kids, which stood to benefit from the government’s budget strategy, according to a report from the UK parliamentary watchdog that was issued earlier this week.

Sunak then expressed his regret for the “inadvertent” violation that had occurred “out of confusion,” and only then was the problem resolved.

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