AT A time when investment sentiment towards London has shown signs of weakening, businessman and philanthropist Nirmal Sethia is continuing to commit capital to the city, including a major commercial development in the Square Mile.
Sethia is the majority owner in a joint venture with Asian Media Group (AMG) for the purchase and development of 41 Moorgate. He put up all the funding for the project’s development, underlining a strategy of deploying capital into London while others reduce exposure. The development, linked to the Vismay project, reflects ongoing confidence in the capital’s long-term prospects.
His approach to investment is consistent with a broader philosophy of financial independence. Sethia has previously said, “We don’t borrow from banks, and we don’t allow outside shareholding,” outlining a structure designed to maintain control and long-term stability across his business interests.
Alongside property investment, Sethia’s commercial activities include Newby Teas, where he is closely involved. “I am personally responsible as a tea taster for a company called Newby Teas. It is the world’s finest tea company with a mission not to make money, but to try and promote tea culture which is 5,000 years old,” he said. Profits from the company are directed to the N. Sethia Foundation, linking commercial operations with charitable work.
The foundation, established in 1995, is central to Sethia’s work. “Ninety-five percent of my time goes to charity,” he previously told the Asian Rich List. Its activities are based on spiritual life and span healthcare, education, cultural initiatives and social support, with projects across the UK, India and Africa.
In London and across the UK, the foundation has supported a range of healthcare institutions. At University College London Hospital, the Chitra Sethia Centre for Robotics & Minimal Access Surgery provides specialised training in robotic and laparoscopic techniques. It is described as the first robotic training centre in the world and houses a Da Vinci system used for training across multiple disciplines. Sethia said, “The precision surgery is done by the da Vinci robots.”
At St Mary’s Hospital, part of Imperial College London, the Chitra Nirmal Sethia Surgical Technology Hub forms part of the Surgical Innovation Centre and was opened in January 2015 by the then Prince of Wales. The foundation has also supported the UCL Institute of Immunity and Transplantation at the Royal Free Hospital in Hampstead, where a floor is named the Chitra Nirmal Sethia Floor within the Pears Building completed in June 2021.
In Cambridge, the Chitra Sethia Autism Centre was established to support autism research trust under Cambridgeshire & Peterborough National Autism Society Foundation Trust for the adults suffering from autistic conditions. It provides diagnostic and post-diagnostic support services and was opened in September 2013 by the Countess of Wessex.
Beyond healthcare, Sethia has contributed to cultural institutions in London. He is the founding member of the London Museum, the institution formed from the relocation and relaunch of the Museum of London, scheduled to reopen in 2026. The foundation has also established the Chitra Nirmal Sethia Gallery at the Victoria and Albert Museum and contributed to the restoration of St Mary the Virgin Church in Somerset. He also holds honorary life membership of the National Library, given to him by King Charles.
The foundation’s work extends to community and religious infrastructure. It is the single largest donor to the Tirupati Temple in Birmingham and has funded the construction of two major temple projects in India. These include the Tirupati Balaji Temple in New Delhi, opened in May 2013, and a second temple in Kurukshetra inaugurated in 2018. In addition, Sethia has supported the construction of 15 crematoriums in West Bengal in India to facilitate Hindu religious rites and ensure dignified cremation.
Educational initiatives include the Sona Devi Sethia PG Girls College in Rajasthan, which is funded and managed by the Nirmal Sethia Charitable Trust and educates around 900 pupils each year.
The foundation has also supported international humanitarian efforts. A recent contribution of $7 million was directed to hospitals in Africa through recognised organisations including the World Health Organization (WHO), UNICEF and the United Nations to support Christian and Muslim children and their establishments. Other support has included donations following the Grenfell Tower fire in London in 2017, assistance for widows affected by the war in Ukraine, and funding for children requiring medical care.
Sethia’s interest in heritage is reflected in the Chitra Collection, a private museum of historic teawares established in 2011. The collection comprises nearly 2,000 artefacts dating from the 10th century BC to modern times and has been valued at over £600 million.
Born in Calcutta (now Kolkata) on November 8, 1941, Sethia first came to London as a boy, earning seven shillings a week. He returned to India at the age of 16 before moving back to London in 1966. He married Chitra Devi on February 18, 1969, and they had three children: Richa, Rishi and Puru. Chitra passed away on November 30, 2010.
Today, Sethia divides his time between London and Dubai, overseeing the N Sethia Trust interests in the security printing sector, commodity trading and property investment banking. Newby Teas is a member of the Ethical Tea Partnership and achieved carbon neutrality in January 2024.
With continued investment into London property, alongside sustained philanthropic and institutional commitments, Sethia’s activities reflect a long-term engagement with the city at a time when others are reassessing their presence. The references given above are only for the major projects, but there are hundreds of others in the field of charity in Russia, Kazakhstan, Europe, Africa and India.
