(Image source from: Ld Swraj Paul is second wealthiest person in British Midlands)

Lord Swraj Paul has been rated the second richest person in British Midlands by Birmingham Post. The owner of steel and engineering empire, the Caparo Group has a wealth worth two billion pounds making his family one of the wealthiest in the United Kingdom.

According to the Birmingham Post, the family-owned company had profits of more than 50 million pounds that placed Swraj Paul in the second position on its annual 50 richest people list in the Midlands region.

Caparo, which operates from over 80 locations in the world, has a worth of over 1.5 million pounds in its growing Indian businesses alone, reported Birmingham Post. The company is benefitting from trading with the fastest growing economies in the world. Some of its major markets like India has been returning into the growth path that improved Caparo's post-recession fortunes.

At present the group has three ventures in India - Caparo Engineering India, Caparo Maruti and Caparo India Private. Lord Paul's success and riches has been an outcome of the rapid rise of the Indian and Chinese economies and their ever increasing demand for raw materials, reported the newspaper.

(Picture Source: telegraphindia.com)

(AW: Pratima Tigga)