Hosted by the Asian Media Group, the Asian Business Awards recognise and reward top achievers from the community.
By:
EasternEye
ONE of Britain’s best-known industrialists scooped the top honour at the annual Asian Business Awards on 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, 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
After winning the award, Lord Paul said: “I remember when 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.
“My family and I fought for India’s freedom. My brother and I, along with others, came to our house where 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,” he said.
Lord Paul 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 added: “And some of those business founders came to the UK with next to nothing, built their way up, created wonderful success stories.
“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 that we celebrate the talent and hard work that is present in this room this evening. 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.”
Another 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.
Gopichand Hinduja unveiled the glossy publication in front of 700 guests at the Park Plaza Westminster Bridge.
Among those who attended were MPs, CEOs, and business and community leaders.
Indian high commissioner Vikram Doraiswami thanked the organisers for the opportunity to launch the Asian Rich List. He spoke about the importance of the bilateral relationship between India and the UK, and said: “The South Asian community here has generated tremendous value over decades.
“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.
“To that end, we at the High Commission congratulate everyone who made it onto this year’s list. For those who didn’t, perhaps channel your inner John Lennon and rattle your jewellery,” he said.
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 2024 is 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. For example, at John Lewis, we collect vast amounts of data about customer behaviour. But sometimes, we forget that we don’t actually know the customer as well as we think.
“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.
“Fail quickly if you’re going to fail—that’s critical. One mistake I’ve made is being too patient with organisational changes. When turning around a business, you need to build capabilities ahead of its current state. If you don’t, you’ll end up with an organisation fit for today but incapable of driving future growth.
“Another lesson is distinguishing between tactics and strategy. Early in my career, I spent too much time on tactical fixes when the real issue was a flawed strategy. Strategy boils down to two questions: where do you want to play, and how do you win? If you get those right and execute them well, businesses tend to thrive,” Kankiwala said.
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.
Aditya Solanki, Chief Operating Officer at Asian Media Group, 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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