Swraj Paul is the founder of the UK-based Caparo Group
He was a Labour peer in the House of Lords, becoming the first Indian Deputy Speaker, and received honors like the Padma Bhushan
A close ally of Indira Gandhi, he challenged India’s corporate governance
Swaraj Paul, the businessman, philanthropist, and Labour peer—member of the UK’s Labour Party, was an influential figure who left a lasting mark on both India and the UK. As an NRI who later settled in Britain, he became a close supporter of Indira Gandhi during her most politically isolated years and played a key role in challenging India’s corporate system, shaping debates on privatization and economic reform. He was also the founder of the UK-based Caparo Group of Industries.
Paul passed away in London on 21 August 2025 at the age of 94, after a period of illness. Despite his frailty in recent months, he remained an active presence in the House of Lords, attending sessions almost daily. Prime Minister Narendra Modi mourned his death, calling him a remarkable individual who strengthened India’s global presence.
Swraj Paul was born in Jalandhar, India, in 1931 and studied at Punjab University before pursuing higher education at the Massachusetts Institute of Technology (MIT). He moved to the UK in 1966 for the medical treatment of his daughter, Ambika, who had been diagnosed with leukaemia. Doctors advised that her best chance of survival was treatment in London.
Tragically, Ambika passed away at the age of four, an event that profoundly shaped Paul’s philanthropic journey. In her memory, he established the Ambika Paul Foundation, which donated millions to children’s health and education initiatives worldwide. One of its most prominent contributions was to the London Zoo, where Ambika had loved to spend time and which continues to benefit from the foundation’s support.
In 1968, Paul founded the Caparo Group, which grew into a global steel and engineering giant with operations across the UK, North America, India, Europe, and the Middle East. By 2025, the group was estimated to be worth GDP 2 billion, securing Paul a regular place on the annual Sunday Times Rich List. His son, Akash Paul, joined the company in 1982, became CEO in 1992, and today leads Caparo India while serving as Director of the global group.
Beyond business, Lord Paul played a major role in public life in both the UK and India. He was appointed a Labour life peer as Baron Paul of Marylebone in 1996. In 2008, he became the first Indian to serve as Deputy Speaker of the House of Lords. In July 2009, he was also appointed a member of the Privy Council. A committed supporter of the Labour Party, he remained active in British politics until the UK expenses scandal forced him out of his role in the Lords, a development he described as unjust and racially motivated.
Paul was equally influential in India. In the late 1970s, he became a close supporter of Indira Gandhi during her years in political exile after losing power. Having once benefited from her help in securing travel for Ambika’s treatment, Paul felt it was his duty to stand by her when she was politically isolated. He invited her to London and publicly supported her, despite hostile coverage in the UK press. When Indira Gandhi returned to her office in 1980 she tried to repay his loyalty. Mrs. Gandhi offered him the position of India’s High Commissioner to London.
This became a little unsettling for Paul as he had been a very vocal critic of Indira Gandhi’s Emergency(1975). Thinking that the Emergency will go on forever in India, Paul surrendered his Indian citizenship and became a UK citizen. Hence there was no way he could have represented India diplomatically in London.
In the 1980s, Paul attempted to shake up India’s tightly controlled business sector by purchasing shares in major companies such as Escorts and DCM, both dominated by family ownership despite being largely financed by public institutions. He criticised the mismanagement of such firms and argued that Indian industry was run as “private empires” at the expense of the public. Although his takeover attempts ultimately failed—partly due to the assassination of Indira Gandhi in 1984 and Rajiv Gandhi’s lack of support—his campaign exposed flaws in Indian corporate governance and foreshadowed the economic reforms of 1991.
Lord Paul was widely decorated for his contributions. He was awarded the Padma Bhushan in 1983 by the Government of India. From 2000 to 2005, he co-chaired the India-UK Round Table. In 1999, he became Chancellor of the University of Wolverhampton, a role he held for 26 years, making him one of the longest-serving university chancellors in the UK. He received 15 honorary degrees for his services to business, education, and philanthropy. Colleagues and university officials remembered him as a man of “humility, generosity, and integrity,” committed to social mobility and widening opportunities for students.
Lord Paul endured significant personal tragedies. He lost his daughter Ambika in 1968, his son Angad Paul in 2015, and his wife, Lady Aruna Swraj Paul, in 2022 after 65 years of marriage. In their memories, he undertook further philanthropic projects, including the Lady Aruna Swraj Paul Hall at the Indian Gymkhana Club in London. Despite these losses, he remained dedicated to public service and philanthropy throughout his life.
Many mourned his passing. Prime Minister Narendra Modi said he was “deeply saddened” and praised Lord Paul’s role in strengthening UK-India ties, describing his contributions to industry, philanthropy, and public service as unforgettable. Leaders in the UK also paid tribute, with colleagues in the House of Lords hailing him as a tireless contributor to both nations. [Rh/VP]
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