The Indian-born peer, Lord Swaraj Paul, has been appointed deputy Speaker of the UK House of Lords, the first person of Indian origin to hold the post.
Lord Paul said the appointment was an honour for someone who came from what he described as a freedom fighter's family in India.
Lord Paul first came to Britain in 1966 when his daughter required medical treatment.
He stayed on after her death and built a successful steel industry business.
He was knighted in 1978, becoming a Life Peer and member of the House of Lords in 1996.