Hope for stalled India-UK FTA rises manifold after Sunak appointed PM

Hope for the stalled India-UK bilateral trade deal has increased manifold after Indian-origin Rishi Sunak was appointed British prime minister. Sunak had earlier told an Indian English-language daily that he was ‘strongly committed’ to the UK-India free trade agreement to create jobs in both sides and for India to liberalise its consumer financial services industry.

Sunak had said the United Kingdom could facilitate climate finance to fund India's net zero ambitions.

There are media reports in India of heightened expectations of a much-needed boost to bilateral ties.

PM Narendra Modi tweeted: "Warmest congratulations @RishiSunak! As you become UK PM, I look forward to working closely together on global issues, and implementing Roadmap 2030. Special Diwali wishes to the 'living bridge' of UK Indians, as we transform our historic ties into a modern partnership."

India’s ministry of external affairs last week said New Delhi hopes its UK ties won't get affected after the new leader takes over as PM.

The UK-India relationship was ‘a partnership of equals’ where the brightest talent from both countries travel back and forth to study and work, one which includes a close trading partnership on goods and services, and where the UK and India freely exchange world-class ideas and innovation, Sunak had said earlier this year.

"The UK does not have a natural right to sit at the table with one of the world's largest, fastest growing, and most dynamic economies. We must earn it. Right now, there are something like 900 million Indian people under the age of 35. They are smart. They are increasingly well-educated. They are ambitious. And when they look out at the world, we can't take for granted that they will look to the UK," he had told the India Global Forum UK-India awards earlier this year.