Indians at crossroads in modern society: Swraj Paul

The merging of tradition and change is one of the major challenges facing Indians who are at a crossroads in modern society, non-resident Indian Lord Swraj Paul said on Friday.

Speaking at the Business Dinner for the British India Association in Leeds, Lord Paul said: "On one side are all the values of our heritage; on the other is our worldwide reputation for commercial excellence. The merging of these two powerful forces - tradition and change - is one of the major challenges today."

Lord Paul, Ambassador for Overseas British Business, said the relationship between wealth and responsibility has been
examined throughout history and "today, we combine a mix of modern business ideas with traditional perceptions. Most
people agree that wealth, and its continued creation, is essential for everybody.

"It is the foundation for material development, and the key to the conventional vision of a better life. Disagreements only arise regarding circumstances in which wealth is created and how it is to be distributed.

"Wealth can give you a better life, but can it make you a better person?" he asked. The Hindu doctrine teaches us that while the pursuit of wealth might be permissible, attachment to it is not, he said and added "my own personal experience suggests that wealth is the reward for individual effort. But there are limits to its compensations."             

Stating that he had known tragedy in his life, and all the money in the world could not prevent those tragedies from happening, Lord Paul said he acknowledged the intellectual challenge in the creation of wealth, but he also acknowledged the limits of its value.

Lord Paul came to London in 1966 in search of a cure for his fourth child, Ambika. He emerged from the trauma of her death to set up Caparo, today the largest family-owned business in Britain.
 
Lord Paul said he believes in the system of free enterprise because it encourages individuality. "It is efficient and it creates wealth rapidly. But it cannot be allowed to run unchecked.

"And this is where responsibility is linked to wealth, because a system that encourages the creation of wealth without corresponding responsibilities is like a car in motion without a driver - the momentum is there, but it is a public menace," he said.

"Wealth can impact arrogance, and arrogance combined with the power of wealth can become a social menace. Unfortunately, restraint is not born in us, it must be taught by example. This is where we all have a responsibility to uphold our traditional moral values.

"Among those values, which I hope we will continue to nurture, is the ideal of social responsibility."

Lord Paul, co-chairman of the India-UK Round Table, said the society "has an obligation to look after those who cannot take care of themselves. But this does not mean we have to create a welfare state. We have to develop conditions that will enable each individual to make the most of his or her potential."