'UK and India in a sweet spot of trade dynamics' says Liz Truss, UK PM

NEW DELHI:  UK foreign secretary Liz Truss (47) on Monday formally won the Conservative Party leadership contest, earning the right to become the nation’s third woman prime minister. The only element of surprise was the margin by which she defeated her Indian-origin rival Rishi Sunak 20,927 votes which were closer than thought. 

“I am honoured to be elected leader of the Conservative Party. Thank you for putting your trust in me to lead and deliver for our great country. I will take bold action to get all of us through these tough times, grow our economy and unleash the UK’s potential,” Truss said after the poll results were announced. The Queen will formally appoint her PM on Tuesday.

Back home in India, she is viewed as a British politician known for championing stronger India-UK trade and strategic ties. “I see the UK and India in a sweet spot of trade dynamics,’’ said Truss in May last year when the India-UK Enhanced Trade Partnership was signed. This led to the initiation of the India-UK Free Trade Agreement (FTA).

“Liz Truss will be good for India. As trade secretary, she has been involved with India and has been at the centre of trade partnerships, which will culminate in the finalisation of the FTA. Besides, as trade secretary she has come to India thrice in the past two years,” said sources.

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As trade secretary, Truss got to know commerce minister Piyush Goyal and External Affairs Minister Dr S Jaishankar. This will help in furthering trade and diplomatic ties between India and the UK. “She was instrumental in setting the Diwali deadline for the FTA and we are optimistic that the subsequent rounds would be on track. Five rounds are already over,’’ sources added.

Commerce Secretary B V R Subrahmanyam recently said that 19 out of the 26 chapters of the FTA talks are closed and negotiations are underway in a few areas. The Diwali deadline is not going to be missed.

Prime Minister Narendra Modi, in his greetings, said: “Congratulations Liz Truss for being chosen to be the next PM of the UK. Confident that under your leadership, the India-UK Comprehensive Strategic Partnership will be further strengthened.’’  

What next

BoJo makes their last address outside Downing Street around 8 am local time today, and leaves for Balmoral in Scotland to meet the Queen

Shortly thereafter, Truss flies to Balmoral

Queen appoints Truss as prime minister, making her the first to be given charge outside London, as the 96-year-old monarch is unable to travel

Truss flies back to London, appears outside 10 Downing by afternoon; gets busy with govt formation