New Delhi; Prime Minister Narendra Modi, on Friday, offered his condolences at the passing of well-known NRI entrepreneur and philanthropist Lord Swraj Paul.
“Deeply saddened by the passing of Shri Swaraj Paul Ji. His contributions to industry, philanthropy and public service in the UK, and his unwavering support for closer ties with India will always be remembered. I fondly recall our many interactions. Condolences to his family and admirers. Om Shanti,” the PM posted on X along with an old photograph of his meeting with the UK-based business magnate.
Lord Paul passed away in London on Thursday evening, aged 94.
He was born on February 18, 1931, in Punjab’s Jalandhar and completed his Bachelors in Science from the Punjab University in 1949. Paul then went to the US to pursue his Bachelors & Masters degrees in Mechanical Engineering from the Massachusetts Institute of Technology (MIT).
He was the son of Pyare Lal, who ran a small foundry that made steel goods, including buckets and farming equipment. After completing his studies at MIT, Paul returned to India to join the family business that grew to become the Apeejay Surrendra Group — one of India’s oldest business conglomerates.
He relocated to the UK in 1966 for the treatment for his daughter Ambika who suffered from leukaemia. Unfortunately, she died aged four.
In 1968, Lord Paul laid the foundation to set up the Caparo Group with its headquarters in London. It went on to become one of the largest steel conversion and distribution businesses in the UK. Today, it has operations in the UK, India, the US, Canada, and the UAE with a turnover of over USD 1 billion.
The entrepreneur also set up the Ambika Paul Foundation as a charitable trust in the memory of his daughter. This foundation went on to donate millions to promote the wellbeing of children and young people all over the world through education and health initiatives. The Ambika Paul Children’s Zoo in London is one of the major beneficiaries of the foundation.
Lord Paul, though a successful businessman, had a fair share of tragedies in his life. He lost his son Angad Paul, who was the CEO of the Caparo Group, in 2015 and his wife Aruna in 2022.
He founded the Indo-British Association in 1975 to promote better understanding between India and Britain and served as its chairman. He was knighted by the British Queen in 1978 and became Lord Paul of Marylebone and a member of the House of Lords. He was sworn as a Privy Councilor in October 2009. Lord Paul was conferred with the prestigious civilian award Padma Bhushan by the Government of India in 1983.
Starting his career from a small foundry in Jalandhar, Lord Paul became a regular in the annual ‘Sunday Times Rich List’. In 2025, he was ranked 81st with an estimated wealth of GBP 2 billion, largely derived from the steel and engineering multinational Caparo Group.
