Indian-origin British industrialist and philanthropist Lord Swraj Paul, founder of the UK-based Caparo Group, passed away in London on Thursday evening at the age of 94. He had been unwell and was recently hospitalised, where he breathed his last surrounded by his family members.

A towering figure in UK industry

Lord Paul was one of Britain’s richest and most influential business leaders, with his Caparo Group operating internationally across more than 40 sites in the UK, North America, India, and the Middle East. In 2025, he was ranked 81st in the Sunday Times Rich List, with an estimated wealth of GBP 2 billion.

His son, Akash Paul, currently serves as Chairman of Caparo India and Director of the Caparo Group. Lord Paul’s business journey was marked by decades of innovation and expansion, making Caparo a globally recognised name in steel and engineering.

A life of personal tragedy and philanthropy

Born in Jalandhar, Punjab, in 1931, Swraj Paul moved to the United Kingdom in the 1960s to seek medical treatment for his young daughter, Ambika, who had been diagnosed with cancer. Tragically, Ambika passed away at the age of four.

In her memory, he established the Ambika Paul Foundation, a charitable trust dedicated to children and youth welfare. One of its most enduring contributions is the Ambika Paul Children’s Zoo at the London Zoo, which continues to be a major beneficiary of his philanthropy.

Lord Paul faced more personal losses later in life, including the death of his son, Angad Paul, in 2015, and his wife, Lady Aruna Paul, in 2022. Despite these tragedies, he remained deeply committed to philanthropy, inaugurating the Lady Aruna Swraj Paul Hall at the historic Indian Gymkhana Club in London last year as a tribute to his wife.

Contributions to academia and public life

Lord Paul served as Chancellor of the University of Wolverhampton for over 26 years. In 2024, he awarded an honorary doctorate to his son, Akash Paul, in recognition of his services to business administration.

He was also a life peer in the UK’s House of Lords, where he remained active until recent months, despite his frail health. His participation in debates and policy discussions earned him respect across political lines.

Tributes pour in

Prime Minister Narendra Modi expressed his condolences, calling Lord Paul a visionary who strengthened ties between India and the UK.

“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,” PM Modi posted on X.

A lasting legacy

Lord Swraj Paul’s legacy lies not only in his global business empire but also in his philanthropy, resilience, and lifelong service to society. From establishing children’s charities to supporting higher education and contributing actively in the House of Lords, he leaves behind a legacy of compassion and leadership that will be remembered across generations.