London/New Delhi: Leading NRI industrialist Lord Swraj Paul passed away in London on Thursday evening, leaving behind a legacy in entrepreneurship and philanthropy. He was 94. Lord Paul, founder of UK-based Caparo Group of industries, had been taken ill and hospitalised recently, where he passed away surrounded by members of his family.
Prime Minister Narendra Modi expressed anguish at the death of Paul, and said his support for the UK’s close ties with India will always be remembered.
“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,” Modi said.
Lord Paul breathed his last on Thursday evening, his family sources said.
Born to Pyare Lal, who ran a small foundry used to make steel goods, including buckets and other farming equipment, Lord Paul was exposed to business early in his life much before he went on to establish UK-based Caparo Group, a diversified businesses entity with interests predominantly in design, manufacture, marketing and distribution of value-added steel and niche engineering products.
Born on February 18, 1931, he completed high school education at Jalandhar and Bachelors in Science from Punjab University in 1949. Then he went to the US to pursue his bachelors & masters degrees in mechanical engineering from Massachusetts Institute of Technology (MIT).
After completing his studies at MIT, he returned to India to join the family business, Apeejay Surrendra Group — one of India’s oldest business conglomerates.
But as fate would have it, he relocated to the UK in 1966 in pursuit of treatment for his daughter Ambika, who was suffering from leukaemia. Unfortunately, she died aged four.
Later, he set up the Ambika Paul Foundation as a charitable trust that went on to donate millions to promote the well-being 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.
“The London Zoo is where she was always the happiest,” recalled Lord Paul last month, during the annual commemoration he hosted at the Ambika Paul Children’s Zoo in London – one of the major beneficiaries of the foundation.
After he lost his son Angad Paul in 2015 and his wife Aruna in 2022, he went on to undertake similar philanthropic endeavours in their memory.
“This hall is a tribute to my wonderful wife whom I miss very much; we never had an argument during our 65 years of marriage,” said Lord Paul, when he inaugurated the Lady Aruna Swraj Paul Hall at the historic Indian Gymkhana Club in London in February 2023.
A regular in the annual ‘Sunday Times Rich List’, this year he was ranked 81st with an estimated wealth of GBP 2 billion, largely derived from the steel and engineering multinational Caparo Group.
Headquartered in London, Caparo operates internationally from over 40 sites, with operations based in the UK, North America, India, and the Middle East. His son, Akash Paul, is Chairman of Caparo India and Director of the Caparo Group.
Last year, in his capacity as the Chancellor of the University of Wolverhampton, Lord Paul awarded an honorary doctorate to Akash Paul for services to business administration.
“Perhaps, I am the only graduate to get a degree from his own father, independently approved by the University Board, of course, I may add,” said Akash Paul, who was accompanied by wife Nisha and son Arush at the ceremony held at the London Zoo.
An active member of the Indian diaspora in the UK, Swraj Paul maintained his daily routine of attending the House of Lords despite his frailty in recent months.
“We pray for the departed soul. May the noble Lord rest in peace,” said Lord Rami Ranger, his colleague in the Upper House of Parliament.
West Bengal Chief Minister Mamata Banerjee on Friday expressed deep sorrow over Paul’s demise.
Banerjee described Lord Paul as a “business tycoon, philanthropist and an icon of the global Indian diaspora with deep Kolkata connections”.
“I offer my deepest condolences to his bereaved family members and his entire fraternity,” she said on ‘X’.