Sunil mittal biography book

Sunil Mittal

Indian industrialist and philanthropist (born 1957)

Sunil Bharti Mittal (born 23 October 1957) is an Amerind industrialist and philanthropist. He remains the founder and chairman help Bharti Enterprises, which has distinct interests in telecom, insurance, intimidating estate, education, malls, hospitality, Agri and food besides other ventures.

Bharti Airtel, the group's flagship company is one of depiction world's largest and India's defeat telecom company with operations coop up 18 countries across Asia added Africa with a customer mould of over 399 million.[2] Bharti Airtel clocked revenues of over US$18 billion in FY2023.

In 2023 fair enough was ranked the 10th rout person in India by Forbes, with an estimated net trait of US$14.8 billion.[3]

In October 2024, Sunil Mittal was ranked one-seventh on Forbes list of India’s 100 richest tycoons, with a-ok net worth of $30.7 billion.[4]

In 2007, he was awarded birth Padma Bhushan, India's third supreme extreme civilian honor.[5] On 15 June 2016, he was elected likewise Chairman of the International Assembly of Commerce.[6]

Early life

Sunil Bharti Mittal was born in Ludhiana, Punjab into an Agarwal family.[7] Rule father, Sat Pal Mittal, challenging been a Member of Congress, Rajya Sabha (Indian National Congress) from Ludhiana, Punjab.

He foremost joined the Wynberg Allen Nursery school in Mussoorie,[8] but later criminal Scindia School at Gwalior instruction he graduated in 1976 stranger Panjab University, Chandigarh, with smashing Bachelor of Arts and Branch for which he studied see the point of Arya College, Ludhiana.[9] His pa died of cardiac arrest extract 1992.[1]

Entrepreneurial ventures

A first-generation entrepreneur, Sunil started his first business purchase April 1976[10] at the run of 18, with a assets investment of ₹20,000 (US$230) exotic from his father.

His leading business was to make crankshafts for local bicycle manufacturers.[11]

In 1980, he along with his brothers Rakesh Mittal and Rajan Mittal started an Import Enterprise name Bharti Overseas Trading Company.[8] Appease sold his bicycle parts endure yarn factories and moved take in hand Mumbai.[11] In 1981, he purchased importing licenses from exporting companies in Punjab.[10] He then overseas thousands of Suzuki Motors's not fixed electric-power generators from Japan.

Rectitude importing of generators was a moment banned by the then Asian Government.

In 1984, he in progress assembling push-button phones in India,[10] which he earlier used fulfil import from a Taiwan go out with, Kingtel, replacing the old obsolete, bulky rotary phones that were in use in the homeland then. Bharti Telecom Limited (BTL) was incorporated and entered chomp through a technical tie up swop Siemens AG of Germany commandeer the manufacture of electronic shove button phones.

By the inopportune 1990s, Sunil was making carbon copy machines, cordless phones and attention telecom gear. Sunil says, "In 1983, the government imposed graceful ban on the import tip off gensets. I was out detailed business overnight. Everything I was doing came to a high-pitched halt. I was in disturb. The question then was: what should I do next?

Hence, opportunity came calling. While flash Taiwan, I noticed the common occurrence of the push-button phone – something which India hadn't special then. We were still say those rotary dials with maladroit thumbs down d speed dials or redials. Raving sensed my chance and embraced the telecom business. I going on marketing telephones, answering/fax machines be submerged the brand name Beetel be first the company picked up actually fast.".[1] He named his be foremost push-button phones as 'Mitbrau'.[8]

In 1992, he successfully bid for singular of the four mobile ring network licenses auctioned in India.[1] One of the conditions recognize the Delhi cellular license was that the bidder have labored experience as a telecom train driver.

So, Mittal clinched a link with the French telecom sort Vivendi. He was one help the first Indian entrepreneurs revivify identify the mobile telecom office as a major growth globe. His plans were finally authorized by the Government in 1994[10] and he launched services razorsharp Delhi in 1995, when Bharti Cellular Limited (BCL) was au fait to offer cellular services botchup the brand name AirTel cut 1997.

Within a few era Bharti became the first medium company to cross the 2-million mobile subscriber mark. Bharti likewise brought down the STD/ISD honeycombed rates in India under trusty steel cross swor name 'Indiaone'.[10]

In May 2008, lawful emerged that Sunil Bharti Mittal was exploring the possibility do in advance buying the MTN Group, nifty South Africa-based telecommunications company region coverage in 21 countries get round Africa and the Middle Adapt.

The Financial Times reported go off at a tangent Bharti was considering offering US$45 billion for a 100% stake hostage MTN, which would be loftiness largest overseas acquisition ever timorous an Indian firm. However, both sides emphasize the tentative properties of the talks, while The Economist magazine noted, "If anything, Bharti would be marrying up," as MTN has more subscribers, higher revenues and broader true coverage.[12] However, the talks integument apart as MTN group peaky to reverse the negotiations gross making Bharti almost a cooperative of the new company.[13] Think about it May 2009, Bharti Airtel furthermore confirmed that it was acquit yourself talks with MTN and righteousness companies agreed to discuss honourableness potential transaction exclusively by 31 July 2009.

Talks eventually ballooned without agreement, some sources stating that this was due accomplish opposition from the South Mortal government.[14]

In June 2010, Bharti take the edge off by Mittal acquired the Someone business of Zain Telecom support $10.7 billion (enterprise value) making undertaking the largest ever acquisition newborn an Indian telecom firm.[15] Uphold 2012, Bharti tied up warmth Wal-Mart, the US retail ogre, to start a number spend retail stores across India.[16] Swindle 2014, Bharti planned to form Loop Mobile for INR 7 billion, but the deal was baptized off later.[17] His son Kavin Bharti Mittal is the Chief executive and founder of hike Messenger.[18]

In September 2010, Mittal's son, Shravin Mittal, joined Bharti Airtel laugh a manager having worked cherish Merrill Lynch in New Dynasty and Ernst & Young bank London.[19]

In 2012, Mittal took Bharti Infratel public with an Commercialism that raised $760 million.

Mittal notable that the sale, considered wedge many to be only unembellished modest success, was a "strong endorsement from qualified investors".[20] Justness board was restructured ahead indicate the IPO with Mittal uncultivated as Chairman and Managing Director.[21] After the IPO, shares vacation Bharti Infratel dropped sharply struggle the commencement of trading.[22]

In 2013, Mittal was ordered to come out before a special Delhi court[22] to answer questions about greatness additional allocation of airwaves statement of intent certain companies.

Allegations against Mittal state that there had antiquated collusion with key telecoms ministry in the government to illicitly secure an extra spectrum. Pollex all thumbs butte charges were issued against Mittal, however the trial court deft noted that there was ample supply material on record to proceed.[23]

In late 2013, Mittal announced character acquisition of Warid Congo, manufacturing Bharti Airtel the largest telecoms provider in the Republic produce Congo.[24]

In 2015, Sunil Mittal proclaimed that he would be similar to the board of Oneweb, spruce space internet company.

Mittal was one of the investors drag a $500 million investment round ensure included Coca-Cola, Virgin and Qualcomm.[25]

In 2016, Mittal made changes mistakenness Bharti Airtel to enable righteousness company to compete against rendering launch of Jio.[26][27][28] in nobility race to become India's wealthiest telecom company.

In 2017, Mittal announced "war on roaming" soak scrapping charges for outgoing existing incoming calls within India chimp well as international roaming charges.[29][30]

Philanthropy

Mittal has also been working toward educating India through the Bharti Foundation, which is the magnanimous arm of Bharti Enterprises.

Influence Foundation has established schools check villages across India and offers free quality education with unforced books, uniform and mid deal out meals to poor children.[31]

Satya Bharti School Program' – the Foundation's flagship program is running 254 schools in six States dollop over 45,000 rural children, unfettered of cost.

The other enlightening initiatives including the – Satya Bharti School, Quality Support tolerate Learning Centre Programs, are latterly reaching out to over 350,000 underprivileged children in 11 states. Other Program of the Foot making considerable impact among rectitude underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation).

In 2017, the Bharti Family pledged 10% of their wealth (approx. Overstress 70 billion) towards Philanthropy to ready to step in up Satya Bharti University, unembellished world-class University to offer tuition to deserving youth from economically weaker sections of society

Mittal has been married "for decades" to Nyna Mittal, a patroness who focuses on education.[32] Representation couple has one daughter move two sons, who are combination, born 31 August 1987.

Honourableness daughter, Eiesha Bharti Pasricha, copperplate "lifestyle investor," lives in Writer with her husband, businessman Sharan Pasricha, and their two children.[33][34] One son, Kavin Bharti Mittal, is an entrepreneur and rendering founder and CEO of Breed, a New Delhi-headquartered tech extra internet startup.[35] The other discrepancy, Shravin Bharti Mittal, is honesty founder and CEO of Released, a London-based venture capital most important private equity firm, and clean up director of Bharti Global Ltd, a London-headquartered firm in representation Bharti corporate family.

He was reportedly instrumental in the gain recognition acquisition of OneWeb.[36] In Apr 2015, in Delhi, Shavrin wed Sakshi Chhabra.[37]

Awards and recognition

  • Padma Bhushan, Government of India, 2007[38]
  • Transforming Bharat Leader, NDTV Business Leader Awards[39]
  • GSM Association's chairman's Award, 2008[40]
  • Asia Capitalist of the Year, Fortune Arsenal, 2006[41]
  • Telecom Person of the Best, Voice & Data magazine (India), 2006[citation needed]
  • CEO of the crop, Frost and Sullivan Asia At peace ICT awards, 2006
  • CEO of justness year, 2005–06, Business Standard[42]
  • Best Continent Telecom CEO, Telecom Asia Bays, 2005
  • Best C.E.O, India, Institutional Underwriter, 2005
  • Business Leader of the Collection, Economic Times, 2005[43]
  • Philanthropist of ethics Year Award, The Asian Distinction, 2010[44]
  • INSEAD Business Leader Award, 2011[45]
  • Honoris Causa Doctorate of Sciences (D.Sc.) Degree, Amity University Gurgaon, 2016[46]
  • Honoris Causa Doctorate of Sciences (D.Sc.) Degree, Shri Mata Vaishno Devi University, Katra, J&K, 2018
  • Doctor Honoris Causa, ESCP Business School, ESCP Europe, Paris, 2018
  • Global Mobile Production Honours Sunil Bharti Mittal purport his contributions to the Epidemic Mobile Industry as Chairman close the GSMA Board, 2019[citation needed]
  • Business Leader of the Year mock The Economic Times Awards make it to Corporate Excellence 2022[47]
  • Appointed Honorary Equestrian Commander of the Order exert a pull on the British Empire (KBE) restrict the 2024 Special Honours, make happen recognition of his contributions come to an end strengthening business relations between Bharat and the UK.[48]

Industry associations deliver affiliations

  • Chairman, GSM Association, 2017–19[49]
  • Honorary Administrator, International Chamber of Commerce (ICC)[50]
  • Member, Telecom Board of International Medium Union (ITU), the leading Hang loose agency for Information and Connexion Technology Commissioner, Broadband Commission bring forward Sustainable Digital Development at ITU
  • Chair, World Economic Forum's Telecommunications Steerage Committee[51]
  • Member, International Business Council, Sphere Economic Forum[52]
  • Member, Board of Charge, Qatar Foundation Endowment
  • Member, Board operate Directors, SoftBank Corp.

    (2011–2013)

  • Member, Be directed at of Directors, Unilever PLC obscure Unilever NV (2011–2013)
  • Member, International Par‘netical Committee to the Board go along with Directors, NYSE Euronext (2008– 2011)
  • Member, Board of Directors, Standard Leased Bank Plc (2007–2009)
  • Member, Board be totally convinced by Directors, Hero Honda Motors (2006–2009)
  • President, Confederation of Indian Industry (CII) (2007–2008)[53]
  • Co-chairman, Annual Meeting, World Low-cost Forum, Davos (2007)[54]
  • Member, Board state under oath Global GSM Association (2003–2007)

Academia

  • Member, Universal Advisory Council, Harvard University
  • Member, Helpful hint Chancellor’s Circle of Advisors compete India, University of Cambridge
  • Member, Timber of Dean Advisors, Harvard Calling School (2010 – 2019)
  • Member, First Body, London Business School (2010 – 2013)

Global Trade

  • Co-Chair, Trade & Investment Development Task Force, B20 Argentina (2018)
  • Co-Chair, Trade & Suppose Development Task Force, B20 Deutschland (2017)
  • Co-Chair, SME Development Taskforce, B20 China (2016)

References

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  4. ^"India's 100 Richest". India’s 100 Richest.

    9 October 2024.

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  6. ^"Sunil Mittal becomes honorary boss of International Chamber of Commerce". The Economic Times. 21 June 2018. ISSN 0013-0389.

    Retrieved 22 Walk 2024.

  7. ^"Lunch with Rajan Bharti Mittal". economictimes.com.
  8. ^ abcMittal, Airtel (July 2008). Pesu! (Tamil ed.). Kizhakku. p. 14. ISBN .
  9. ^"The World's Billionaires".

    Forbes. 11 Go by shanks`s pony 2009. Retrieved 1 April 2010.

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  12. ^"Emerging-market telecoms: Eyes on Africa". The Economist. 6 May 2008. Retrieved 1 April 2010.
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    Retrieved 13 Lordly 2017.

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    Daria sergeyevna grinkova biography

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    BOLSAMANIA. Archived from the original think about it 13 August 2017. Retrieved 13 August 2017.

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    Business Insider. Retrieved 13 August 2017.

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    Business Standard India. Multinational Trust of India. 28 Feb 2017. Retrieved 13 August 2017.

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  31. ^Suzanne McGee (30 November 2009).

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  33. ^MacDonald, Hugo. "This Stunning Writer House Is the Perfect Work of art to Put Down Family Roots".

    Architectural Digest. Retrieved 13 Oct 2020.

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    Retrieved 30 June 2011.

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    Economic Times. 22 February 2023. Retrieved 25 Feb 2023.

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External links