Outlook Business Desk
Lord Swraj Paul, the UK-based industrialist and philanthropist, passed away on Thursday evening at the age of 94 in London. He had been unwell and recently hospitalised, surrounded by his family during his final moments.
Founder of the Caparo Group, Lord Swraj Paul built a steel and engineering empire spanning 40 international locations, including the UK, North America, India, and West Asia. His son, Akash Paul, serves as chairman of Caparo India and director of the Caparo Group, continuing the family legacy and leading its global operations.
Born in Jalandhar, India, Lord Paul moved to the UK in the 1960s seeking medical treatment for his young daughter Ambika, who sadly passed away at the age of four, shaping his personal and philanthropic journey.
In memory of his daughter, he established the Ambika Paul Foundation, which has funded numerous education and health initiatives worldwide, helping underprivileged communities and leaving a lasting social impact beyond business achievements.
Lord Swraj Paul featured regularly in the Sunday Times Rich List and was ranked 81st this year with an estimated net worth of GBP 2 billion, highlighting his long-standing success in steel, engineering, and global business operations.
Prime Minister Narendra Modi also expressed deep sorrow at Lord Paul’s passing on X (formely twitter), recalling his contributions to industry, philanthropy, and India-UK ties. Modi conveyed condolences to his family and admirers, remembering his public service and personal warmth.
Despite frailty, Lord Paul remained active in the UK House of Lords, contributing to debates and public life. Colleagues, including Lord Rami Ranger, prayed for his soul, highlighting his enduring presence in both business and community service.