ONE of Britain’s best-known industrialists scooped the top honour at the annual Asian Business Awards last Friday (15).
Lord Swraj Paul, who founded Caparo, an international business conglomerate producing steel and niche engineering products, was recognised with the coveted Asian Business of the Year award.
The 94-year-old moved to the UK in the 1960s to seek medical treatment for his young daughter, Ambika (who sadly died), but stayed on and set up his business empire, which has now diversified into hotels and property, power and logistics, finance and investment.
Congratulations to The Rt Hon. Lord Swraj Paul of Marylebone, Founder of Caparo, for being named Asian Business of the Year at the Asian Business Awards!
Join us in celebrating his outstanding achievements and the inspiring legacy!#ABA2024 #BusinessExcellence pic.twitter.com/52esEpQPek
— Asian Business Awards (@AsianBizAwards) November 15, 2024
Lord Paul said: “Mark Tully interviewed me when I first started in Britain. He asked, ‘Lord, how much are you British, and how much are you Indian?’ I said, ‘I am a hundred per cent British and a hundred per cent Indian.’”
Caparo has revenues of $1 billion, with a presence in the US, Canada, the UK, India and the UAE, employing 11,000 people.
Lord Paul said, “My family and I fought for India’s freedom. I started in 1948. I later built my first factory in Huntingdon, at John Baker’s facility. The second plant I built at that time was opened by the Prince of Wales, who is now the King.”
The peer is also known for his philanthropy, having donated major sums to London Zoo and funding universities in the UK and US.
In total, nine winners were recognised on the night, as the best of British Asian enterprise and success was celebrated at the gala event.
Chief guest Pat McFadden, the Chancellor of the Duchy of Lancaster and Cabinet Office minister, paid tribute to Asian businesses, saying they have grown to be “an economic powerhouse in this country”.
He said, “Some of those business founders came to the UK with next to nothing, built their way up, created wonderful success stories.
Chief guest Pat McFadden paid tribute to Asian businesses. (Photo credit: Swani Gulshan)“Through sheer graft, and the power of their own ingenuity, they managed to build incredible organisations touching every part of our national life - from food and drink, to pharma and healthcare, to hospitality and retail.
“It’s important we celebrate the talent and hard work present in this room. Tonight is about honouring the best.
“I want to congratulate everyone who wins an award tonight, to thank you for everything you have done, and to look forward to a future where the UK goes from strength to strength.”
A highlight was the launch of the latest edition of Eastern Eye’s Asian Rich List 2025, a compilation of the 101 wealthiest Asians in the country.
With an estimated wealth of £34.5 billion, the Hinduja family retained their top ranking this year.
Sanjay Hinduja and his wife Anu unveiled the glossy publication in front of 500 guests at the Park Plaza Westminster Bridge.
Among those who attended were MPs, CEOs, and business and community leaders.
In his address India’s high commissioner to the UK, Vikram Doraiswami, spoke about the importance of the bilateral relationship between India and the UK.
He said, “The south Asian community here has generated tremendous value over the decades.
Indian high commissioner Vikram Doraiswami spoke about the importance of the bilateral relationship between India and the UK. (Photo credit: Swani Gulshan)“The relationship between the UK and India has tremendous potential for further growth. In trade, investment, education, and science and technology, this partnership will be one of the major drivers of progress for the remainder of this century.”
Hosted by the Asian Media Group, publishers of Eastern Eye and Garavi Gujarat news weeklies, the Asian Business Awards recognise and reward top achievers from the community.
Winners included Asian Business CEO of the Year, presented to Nish Kankiwala, CEO, John Lewis Partnership.
We’re thrilled to announce that Nish Kankiwala, CEO of @JLPJobs, has been awarded CEO of the Year supported by Westcombe Group at the Asian Business Awards!
Join us in celebrating this remarkable achievement!#ABA2024 #AsianBusinessAwards24 pic.twitter.com/NlDPNJ2HBy
— Asian Business Awards (@AsianBizAwards) November 15, 2024
He told the audience: “Technology should enable better human decisions, not replace them. “At John Lewis, we collect vast amounts of data about customer behaviour.
“The future lies in combining data with human insight. Data science and AI can be enablers and enhancers of decision-making, but they can’t replace human intuition.
Valimex Foodservice, which supplies groceries to London’s top hotels and restaurants, was named Asian Business Fast Growth Business of the Year.
Congratulations to Valimex Foodservice for winning Fast Growth Business of the Year at the Asian Business Awards supported by @PrathamUK!
Their dedication to innovation and excellence in the foodservice industry is truly inspiring.@ValimexUK#ABA2024 #AsianBusinessAwards24 pic.twitter.com/6OGaD1JPhE
— Asian Business Awards (@AsianBizAwards) November 15, 2024
Under the leadership of directors Viraaj and Raajev Thakrar, Valimex’s fleet of refrigerated vehicles services various sectors, such as healthcare, education and hospitality.
A leading family business in the pharmaceuticals sector was crowned winner of the Asian Business Next Gen Award.
CEO Hatul Shah collected the award for Sigma Pharmaceuticals, the country’s largest independent wholesaler in the pharmacy channel. Its revenues have risen by 30 per cent to £270 million, and the company has also enjoyed an eight-fold rise in profit.
Congratulations to Hatul, Bhavin, Rajiv, and Paras Shah of @sigmaplcuk, for winning the Next Gen of the Year Award supported by the Koolesh Shah Family Foundation at the Asian Business Awards!
Here’s to many more successes ahead!#ABA2024 #AsianBusinessAwards24 pic.twitter.com/aGhoLsK6JA
— Asian Business Awards (@AsianBizAwards) November 15, 2024
Mane Kancor, which supplies spices, produces essential oils, natural antioxidants and blends, won the International Business of the Year award.
The Franchise Business was awarded to Lavanya Gamsani, director, Sriram Abhi Limited and her chain of Subway stores.
Femme Fabric Solutions, a feminine hygiene company to end the stigma of period poverty in India and other parts of the world, was named Asian Business Sustainable Business of the Year.
The Asian Business Food and Drink Business of the Year was won by Wanis International Foods, one of the largest specialist food and drink wholesalers in Europe, while Brown & Burk won the Asian Business Healthcare Business of the Year.
We are thrilled to announce that Wanis has been awarded the Food & Drink Business of the Year at the prestigious Asian Business Awards!
Congratulations to the entire Wanis team on this well-deserved recognition!#ABA2024 #BusinessExcellence #Wanis pic.twitter.com/dNjXUbXOuH
— Asian Business Awards (@AsianBizAwards) November 15, 2024
Guests raised funds for Pratham UK.
Jaimin Solanki, partner, Solanki Family Office, said: “The Asian business community has always demonstrated unparalleled determination, skill, and a commitment to excellence. Over the past 26 years, we have witnessed the rise of visionary leaders who have not only excelled in their respective fields, but have also paved the way for the next generation of entrepreneurs.
“They have not only contributed significantly to the UK’s economy but have also become a driving force in philanthropy, social impact, and community cohesion.
“The Asian Business Awards have served as a platform to recognise and applaud these individuals, and tonight, we continue that tradition.”
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