Ashwin was born in Mumbai. His Father Suryakant was one of the co founder of Asian paints. Ashwin completed his Bachelor of Science (Hons) from the Institute of Science, University of Mumbai, Bachelor of Science and Technology in pigment, paints and varnish from UDCT Mumbai, master’s in polymer science from University of Akron , Ohio United States and Diploma in color science from Rensselaer Polytechnic Troy, New York United States. Ashwin's first job was in 1967 as a Development Chemist with Inmont Corp (current BASF) Detroit, USA.