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Bilateral relations between U.K. and India may well be poised to witness considerable two-way exchanges, as Rishi Sunak was designated as Britain's first Indian-origin Prime Minister on Tuesday, scripting a remarkable political comeback in British politics.

On Monday, Mr. Rishi Sunak- 42 years, was elected Conservative Party leader, memorializing an extra special Diwali for the former Chancellor, who entered 10 Downing Street as the youngest British Prime Minister in 210 years. His idea for India-U.K. bilateral ties has moved beyond the opportunity for the U.K. to sell goods in India, wanting Britain to also learn from India.

Recently when Rishi Sunak was Chancellor, he said that the U.K does not have a monopoly on the opportunity. There is a massive amount of opportunity in India. We also want to ensure that if this living bridge is going to be a real thing, we have got to make it simpler for people in the U.K. to go to India to study at world-class institutions to go work in all these exceptional start-ups.

While outlining his vision for India-U.K. ties, the former investment banker-turned-politician stated that I want to ensure that it is easy for our students to also travel to India and learn, that it is also easy for our companies and Indian companies to join hands and work together because it is not just a one-way relationship, it is a two-way relationship.

Mr. Sunak will be moving into 10 Downing Street when Britain is confronting a triple whammy of stalling growth, increased inflation triggered by spiralling energy prices in the wake of the Ukraine war, and a budget shortfall that has corrupted its financial credibility internationally.

He will have no choice but to increase tax rates and make spending cuts that will be undesirable and may have unforeseen political consequences.

In his first address as Prime Minister, Mr. Sunak vowed to approach the country's issues with compassion and to put financial stability and confidence at the heart of this government's agenda.

About Rishi Sunak

Mr. Rishi Sunak, whose parents—retired doctor Yashvir and pharmacist Usha Sunak—are from India, outlining their migration route from Kenya to the U.K. in the 1960s. The Southampton-born Prime Minister is wedded to Infosys co-founder Narayan Murthy's daughter Akshata Murthy, and the couple has two daughters- Anoushka and Krishna.

His grandparents are from British India, but their birthplace Gujranwala lies in modern-day Pakistan's Punjab region.