As far back as 1920, Sir Shri Ram embarked on pioneering efforts in vocation-oriented education by founding the Commercial Education Trust. The first institution taken over by the Trust was the Commercial High School. Over the years, under Sir Shri Ram's guidance, the institution evolved: from a school to an Intermediate College in 1926, to a degree college in 1930, and eventually to a post-graduate College in 1934.

In 1942, Sir Shri Ram became the Chairman of the Governing Body of the College, and by 1948, the Commercial College, soon to be renamed as Shri Ram College of Commerce, had achieved significant enrolment under Delhi University.

It was in 1949 that the proposal to rename the College to "Shri Ram College of Commerce" was initiated, a process that was realized over three years due to Sir Shri Ram's careful consideration.

Meanwhile, the College, until 1949, was located at 8, Darya Ganj, New Delhi. In 1950, the decision to relocate the College to the University Enclave was successfully implemented.

Additionally, in 1947, Sir Shri Ram founded the Shriram Institute for Industrial Research, which commenced operations in 1950. His vision emphasized the importance of understanding and innovating existing technologies through dedicated research, believing this to be crucial for India's progress on the global stage.

Furthermore, in 1956, Lady Shri Ram College for Women was established in New Delhi by Lala Shri Ram in memory of his wife, Lady Shri Ram (Phoolan Devi). Starting initially in a school building in Daryaganj, Central Delhi, the college now occupies a 5-acre campus in Lajpat Nagar, South Delhi.