Sunil Mittal

Jump to: navigation, search

For other uses, see Mittal (disambiguation).

Sunil Bharti Mittal
Sunil Bharti Mittal at the World Economic Forum in Davos, 2007
Born	23 October 1957 (1957-10-23) (age 53) Ludhiana, Punjab, India
Residence	South Delhi, India
Nationality	Indian
Alma mater	Punjab University[1]
Occupation	Chairman and Group CEO of Bharti Enterprises
Net worth	$7.8 billion (2010)[2]
Religion	Hindu
Spouse	Nyna[1]
Children	3[1]
Website
www.airtel.in
Notes [3]

Sunil Bharti Mittal Devnagri: सुनील भारती मित्तल, Punjabi: ਸੁਨੀਲ ਭਾਰਤੀ ਮਿੱਤਲ, born 23 October 1957) is an Indian telecom mogul, philanthropist and the founder, chairman and Group CEO of Bharti Enterprises. The US$7.2 billion turnover company runs India's largest GSM-based mobile phone service and world's fifth largest wireless company with over 190 million customers across 19 countries in Asia and Africa. He is the son of Sat Paul (former MP) and Lalita.^[1]
In 2007, he was awarded the Padma Bhushan, India's third highest civilian honor.^[4]

Contents 1 Early life 2 Entrepreneurial ventures 3 Personal life 4 Philanthropy 5 External links 6 References

 Early life

Sunil Mittal, was born in Ludhiana, Punjab, India. His father, Sat Paul Mittal had been the Member of Parliament (M.P) from Ludhiana. He first joined the Wynberg Allen School in Mussoorie,^[5] but later attended Scindia School at Gwalior and he graduated in 1976 from Punjab University, Chandigarh, with a Bachelor of Arts and Science.^[6] His father died of cardiac arrest in 1992.^[1]

 Entrepreneurial ventures

A first generation entrepreneur, Mittal started his first business in April 1976^[7] at the age of 18, with a capital investment of Rs 20,000 (U$500) borrowed from his father. His first business was to make crankshafts for local bicycle manufacturers.^[8]
In 1980, he along with his brothers Rakesh, Rajan started an Import Enterprise named Bharti Overseas Trading Corporation.^[5] He sold his bicycle parts and yarn factories and moved to Mumbai.^[8]
In 1981, he purchased importing licences from exporting companies in Punjab.^[7] He then imported thousands of Suzuki Motors's portable electric-power generators from Japan. The importing of generators was suddenly banned by the then Indian Government and just two licences to manufacture generators in India were issued to two companies.
In 1984, he started assembling push-button phones in India,^[7] which he earlier used to import from a Taiwan company, Kingtel, replacing the old fashioned, bulky rotary phones that were in use in the country then. Bharti Telecom Limited (BTL) was incorporated and entered into a technical tie up with Siemens AG of Germany for manufacture of electronic push button phones. By the early 1990s, Mittal was making fax machines, cordless phones and other telecom gear. Mittal says, "In 1983, the government imposed a ban on the import of gensets. I was out of business overnight. Everything I was doing came to a screeching halt. I was in trouble. The question then was: what should I do next? Then, opportunity came calling. While in Taiwan, I noticed the popularity of the push-button phone -- something which India hadn't seen then. We were still using those rotary dials with no speed dials or redials. I sensed my chance and embraced the telecom business. I started marketing telephones, answering/fax machines under the brand name Beetel and the company picked up really fast.".^[1] He named his first push-button phones as 'Mitbro'.^[5]
In 1992, he successfully bid for one of the four mobile phone network licences auctioned in India.^[1] One of the conditions for the Delhi cellular license was that the bidder have some experience as a telecom operator. So, Mittal clinched a deal with the French telecom group Vivendi.
He was one of the first Indian entrepreneurs to identify the mobile telecom business as a major growth area. His plans were finally approved by the Government in 1994^[7] and he launched services in Delhi in 1995, when Bharti Cellular Limited (BCL) was formed to offer cellular services under the brand name AirTel. Within a few years Bharti became the first telecom company to cross the 2-million mobile subscriber mark. Bharti also brought down the STD/ISD cellular rates in India under brand name 'Indiaone'.^[7] IndiaOne was India’s first private national as well as the international long-distance service provider, and, thus, became a major factor in Bharti's success by providing services cheaply.
In November 2006, he struck a joint venture deal with Wal-Mart, the US retail giant, to start a number of retail stores across India.
In July 2006, he attracted many key executives from Reliance ADAG, NIS Sparta and created Bharti Comtel.
In May 2008, it emerged that Sunil Bharti Mittal was exploring the possibility of buying the MTN Group, a South Africa-based telecommunications company with coverage in 21 countries in Africa and the Middle East. The Financial Times reported that Bharti was considering offering US$45 billion for a 100% stake in MTN, which would be the largest overseas acquisition ever by an Indian firm. However, both sides emphasize the tentative nature of the talks, while The Economist magazine noted, "If anything, Bharti would be marrying up," as MTN has more subscribers, higher revenues and broader geographic coverage.^[9] However, the talks fell apart as MTN group tried to reverse the negotiations by making Bharti almost a subsidiary of the new company.^[3]
In May 2009, Bharti Airtel again confirmed that it was in talks with MTN and the companies agreed to discuss the potential transaction exclusively by 31 July 2009. Bharti Airtel said in a statement "Bharti Airtel Ltd. is pleased to announce that it has renewed its effort for a significant partnership with MTN Group".
Talks eventually ended without agreement, some sources stating that this was due to opposition from the South African government.^[10]

 Personal life

Mittal resides in Delhi. He is married and has three children. He is superstitious about the number 23, as he was born on the 23rd and also got married on the 23rd day of the month.^[11] He also stops eating meat before any big adventure.^[11]

 Philanthropy

Mittal has also been working towards educating India through the Bharti Foundation. The foundation has established over 200 schools on its 2009 list of the world's top 25 philanthropists.^[12]

 External links

• Bharti Airtel ZAIN deal
• Bharti's agri-venture with Rothschild family
• Exhilway Finance, Bharti's Wealth Manager
• MTN Bharti Merger fails
• Sunil Mittal's Telecommunications Company
• Sunil Mittal Profile and Photographs
• BBC News: Who is Sunil Mittal?
• India PRwire: Sunil B. Mittal chosen for Padma Bhushan Award
• Sunil Mittal's address to youths & students in mp3

 References

1. ^ ^{a b c d e f g} Nair, Vinod (22 December 2002). "Sunil Mittal speaking: I started with a dream". Times of India. http://timesofindia.indiatimes.com/articleshow/msid-32019056,prtpage-1.cms. 
2. ^ "India's Richest Billionares". Forbes. 18 November 2009. http://www.forbes.com/profile/Sunil-Mittal. Retrieved 1 April 2010. 
3. ^ ^{a b} Heather Timmons (25 May 2008). "$50 Billion Telecom Deal Falls Apart". New York Times. http://www.nytimes.com/2008/05/25/technology/25bharti.html. Retrieved 1 April 2010. 
4. ^ "Sunil Mittal, Indra Nooyi get Padma Bhushan". The Hindu Businessline. 27 January 2009. http://www.thehindubusinessline.com/bline/2007/01/27/stories/2007012702200700.htm. Retrieved 1 April 2010. 
5. ^ ^{a b c} pg.14,Airtel Mittal: Pesu! (Tamil Edition),Kizhakku,ISBN 8183688640
6. ^ "The World's Billionaires". Forbes. 11 March 2009. http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Sunil-Mittal-family_EM57.html. Retrieved April 1, 2010. 
7. ^ ^{a b c d e} "Sunil Mittal TimesNow interview". YouTube.com. http://www.youtube.com/watch?v=NU39b9g1oOo. Retrieved 1 April 2010. 
8. ^ ^{a b} Clay Chandler (17 January 2007). "Wireless Wonder: India's Sunil Mittal". CNN (CNNMoney.com). http://money.cnn.com/magazines/fortune/fortune_archive/2007/01/22/8397979/index2.htm. Retrieved 1 April 2010. 
9. ^ "Emerging-market telecoms: Eyes on Africa". The Economist. 6 May 2008. http://www.economist.com/daily/news/displaystory.cfm?story_id=11323216&top_story=1. Retrieved 1 April 2010. 
10. ^ James Middleton (1 October 2009). "Bharti and MTN have called off merger discussions once again". Telecoms.com. http://www.telecoms.com/14914/bharti-mtn-call-off-merger-talks/. Retrieved 1 April 2010. 
11. ^ ^{a b} "I wonder who did this". India Today. 3 October 2010. http://www.brfcs.co.uk/mb/index.php/topic/23622-rovers-takeover/page__st__120. Retrieved 12 October 2009. 
12. ^ Suzanne McGee (30 November 2009). "The 25 Best Givers". Barron's. http://online.barrons.com/article/SB125935466529866955.html. Retrieved 1 April 2010. 

Persondata
Name	Mittal, Sunil
Alternative names
Short description
Date of birth	23 October 1957
Place of birth	Ludhiana, Punjab, India
Date of death
Place of death

Retrieved from "http://en.wikipedia.org/wiki/Sunil_Mittal"

Categories: Indian billionaires | Indian businesspeople | Indian Hindus | People from Ludhiana | 1957 births | Living people | Recipients of the Padma Bhushan | Panjab University alumni | Scindia School alumni