An Indian telecoms billionaire is vying to broker a UK-India trade deal after snapping up a stake of almost 25pc in BT.

Sunil Bharti Mittal is said to be keen to assist discussions between the two countries after striking a deal to become the largest investor in the former British monopoly.

Mr Mittal, who is one of India’s richest men with a reported net worth of as much as $19.7bn (￡15.4bn) and a close ally of prime minister Narendra Modi, has previously called for closer ties between the UK and India.

He held a meeting with David Lammy, Foreign Secretary, and Jonathan Reynolds, Business Secretary, during a trip to India prior to the election.

He also met Sir Keir Starmer and other Cabinet ministers at a Downing Street reception following Labour’s election victory.

In a statement Mr Mittal said: “This investment in BT Group aims to support the commitment of our Hon’ble Prime Minister towards his vision in elevating and broadening the India-UK ties.”

Bharti Global, the investment arm of Mr Mittal’s Bharti Enterprises conglomerate, on Monday said it had agreed to buy a 24.5pc stake in BT from the embattled French tycoon Patrick Drahi.

The transaction will take place in two parts, with Bharti initially acquiring a 9.99pc stake, followed by a further 14.51pc stake once it has received national security clearance from the Government.

The deal makes Mr Mittal the largest shareholder in BT and puts him just shy of a blocking stake. However, he will not take a board seat and has insisted he has no intention of making a formal bid to acquire the company.

Mr Mittal founded Bharti Global in 1976 and grew the company into one of India’s largest conglomerates, with interests spanning telecoms, media and space.

He has a long-standing relationship with BT, which previously held a 21pc stake in Bharti Airtel between 1997 and 2001 and held two board seats.

Allison Kirkby, BT’s chief executive, looks to accelerate cost-cutting at the telecoms behemoth after taking up the role earlier this year. She has vowed to strip ￡3bn of costs out of the business and scale back heavy investment on its broadband network.

Mr Mittal said he was supportive of Ms Kirkby’s strategy and would be encouraging management to follow it “even more boldly”.

He added: “What we see in BT is nothing but outstanding and I think the investor community will start to recognise the excellent job that is being done.”

Mr Kirkby said: “We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy.