Market Updates
Sunak's Rise Highlights UK's Embrace of Diversity and Success of Indian Community
Arjun Pandit
24 Oct, 2022
Mumbai
Rishi Sunak won the leadership race for the Conservative Party after Penny Mordaunt pulled out of the race just two minutes before the deadline and tweeted that Sunak had "her full support."
Former prime minister Boris Johnson dropped out of the race on Sunday night, paving the way for Sunak to lead the party.
Sunak, 42-year old, will become 57th Britain's prime minister and the youngest to lead the nation in more than 200 years.
Ironically, Sunak won the leadership race on Diwali, the festival of lights, celebrated by millions around the world and marks the triumph of good over evil and light over darkness.
Sunak was born in Southampton, UK and his Indian descent parents migrated to the UK in 1960s.
His father Yashvir was born in Kenya and his mother Usha, in Tanzania.
Sunak is the first British-Indian and Hindu to become prime minister of the U.K. and the leader of the Conservative Party, as the party and the island nation embrace cultural diversity after centuries of policies supporting racial divide.
Sunak's astonishing rise to lead the party in just seven years was marked by his appointment as Chancellor of the Exchequer by Johnson just before the Covid pandemic.
Sunak won praise both from labor unions and businesses for launching the furlough scheme by subsidizing 11.6 million jobs.
But his support for the "eat out to help out" policy drew severe criticism from some health experts for fueling the spread of the deadly virus.
As finance minister, Sunak racked up government borrowing by
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