Kolkata, June 3 (IANS) : Leading industrialist Jit Paul, the patriarch of the Rs.20 billion Apeejay Surrendra Group and brother of NRI industrialist Swraj Paul, died here Wednesday following old-age complications. He was 86.

Paul led a vast business empire that included shipping, hotels, tea, retail estate and book retail.

A hardworking man, Paul played a pivotal role in the growth of the group which is set to complete a century of its existence next year.

Born on April 1, 1923, in Jalandhar, Paul was endowed with shrewd business acumen and a vision which enabled him to think ahead of his rivals.

As a teenager, Paul joined his father in the family's steel business company Amin Chand Pyarelal along with his three brothers Satya Paul, Swaraj Pal and late Surrendra Paul.

The company's business increased and it became a leading player in the steel export market.

The company then diversified and ventured into areas like shipping and retail estate.

His also penned a book, "Business of Life: Growing with Apeejay".

From Punjab, Paul shifted base to Kolkata in 1951 after he understood its business potential. Kolkata was his home for the rest of his life