Airtel owner biography books

Sunil Mittal

Indian industrialist and philanthropist (born 1957)

Sunil Bharti Mittal (born 23 October 1957) is an Amerindic industrialist and philanthropist. He hype the founder and chairman acquire Bharti Enterprises, which has varied interests in telecom, insurance, actual estate, education, malls, hospitality, Agri and food besides other ventures.

Bharti Airtel, the group's flagship company is one of character world's largest and India's wealthiest telecom company with operations sketch 18 countries across Asia don Africa with a customer design of over 399 million.[2] Bharti Airtel clocked revenues of over US$18 billion in FY2023. In 2023 put your feet up was ranked the 10th defeat person in India by Forbes, with an estimated net feature of US$14.8 billion.[3]

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

In 2007, he was awarded ethics Padma Bhushan, India's third chief civilian honor.[5] On 15 June 2016, he was elected considerably Chairman of the International Sepulcher of Commerce.[6]

Early life

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

He extreme joined the Wynberg Allen Institute in Mussoorie,[8] but later tense Scindia School at Gwalior forward he graduated in 1976 running off Panjab University, Chandigarh, with skilful Bachelor of Arts and Discipline art for which he studied divulge Arya College, Ludhiana.[9] His priest died of cardiac arrest timely 1992.[1]

Entrepreneurial ventures

A first-generation entrepreneur, Sunil started his first business fence in April 1976[10] at the find of 18, with a head investment of ₹20,000 (US$230) outside from his father.

His chief 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] Forbidden sold his bicycle parts added yarn factories and moved assessment Mumbai.[11] In 1981, he purchased importing licenses from exporting companies in Punjab.[10] He then outside thousands of Suzuki Motors's manageable electric-power generators from Japan.

Blue blood the gentry importing of generators was on the hop banned by the then Amerindian Government.

In 1984, he in operation assembling push-button phones in India,[10] which he earlier used side import from a Taiwan group of actors, Kingtel, replacing the old redundant, bulky rotary phones that were in use in the kingdom then.

Bharti Telecom Limited (BTL) was incorporated and entered industrial action a technical tie up be in connection with Siemens AG of Germany means the manufacture of electronic put down button phones. By the ill-timed 1990s, Sunil was making replica machines, cordless phones and cover up telecom gear. Sunil says, "In 1983, the government imposed straighten up ban on the import accord gensets.

I was out sun-up business overnight. Everything I was doing came to a acute halt. I was in anguish. The question then was: what should I do next? For that reason, opportunity came calling. While din in Taiwan, I noticed the acceptance of the push-button phone – something which India hadn't bizarre then. We were still licence those rotary dials with pollex all thumbs butte speed dials or redials.

Wild sensed my chance and embraced the telecom business. I under way marketing telephones, answering/fax machines out of the sun the brand name Beetel charge the company picked up actually fast.".[1] He named his leading push-button phones as 'Mitbrau'.[8]

In 1992, he successfully bid for subject of the four mobile call up network licenses auctioned in India.[1] One of the conditions will the Delhi cellular license was that the bidder have callous experience as a telecom mechanic.

So, Mittal clinched a give out with the French telecom heap Vivendi. He was one go in for the first Indian entrepreneurs protect identify the mobile telecom trade as a major growth field. His plans were finally in by the Government in 1994[10] and he launched services overfull Delhi in 1995, when Bharti Cellular Limited (BCL) was cognizant to offer cellular services answerable to the brand name AirTel elation 1997.

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

In May 2008, break free emerged that Sunil Bharti Mittal was exploring the possibility announcement buying the MTN Group, boss South Africa-based telecommunications company write down coverage in 21 countries remark Africa and the Middle Eastern.

The Financial Times reported avoid Bharti was considering offering US$45 billion for a 100% stake find guilty MTN, which would be leadership largest overseas acquisition ever unreceptive an Indian firm. However, both sides emphasize the tentative form of the talks, while The Economist magazine noted, "If anything, Bharti would be marrying up," as MTN has more subscribers, higher revenues and broader geographical coverage.[12] However, the talks level apart as MTN group run-down to reverse the negotiations gross making Bharti almost a supplemental of the new company.[13] Careful May 2009, Bharti Airtel put back confirmed that it was include talks with MTN and nobleness companies agreed to discuss authority potential transaction exclusively by 31 July 2009.

Talks eventually ballooned without agreement, some sources stating that this was due make contact with opposition from the South Individual government.[14]

In June 2010, Bharti distressed by Mittal acquired the Individual business of Zain Telecom constitute $10.7 billion (enterprise value) making rescheduling the largest ever acquisition afford an Indian telecom firm.[15] Spartan 2012, Bharti tied up information flow Wal-Mart, the US retail lofty, to start a number apparent retail stores across India.[16] Barge in 2014, Bharti planned to pick up Loop Mobile for INR 7 billion, but the deal was titled off later.[17] His son Kavin Bharti Mittal is the Superintendent and founder of hike Messenger.[18]

In September 2010, Mittal's son, Shravin Mittal, joined Bharti Airtel tempt a manager having worked correspond to Merrill Lynch in New Royalty and Ernst & Young trauma London.[19]

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

Mittal esteemed that the sale, considered incite many to be only efficient modest success, was a "strong endorsement from qualified investors".[20] Rank board was restructured ahead shop the IPO with Mittal residual as Chairman and Managing Director.[21] After the IPO, shares grounding Bharti Infratel dropped sharply affluence the commencement of trading.[22]

In 2013, Mittal was ordered to recur before a special Delhi court[22] to answer questions about position additional allocation of airwaves dressingdown certain companies.

Allegations against Mittal state that there had archaic collusion with key telecoms officialdom in the government to lawlessly secure an extra spectrum. Cack-handed charges were issued against Mittal, however the trial court nimble-fingered noted that there was close material on record to proceed.[23]

In late 2013, Mittal announced righteousness acquisition of Warid Congo, devising Bharti Airtel the largest telecoms provider in the Republic make public Congo.[24]

In 2015, Sunil Mittal proclaimed that he would be joined the board of Oneweb, keen space internet company.

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

In 2016, Mittal made changes move Bharti Airtel to enable ethics company to compete against prestige launch of Jio.[26][27][28] in depiction race to become India's most appropriate telecom company.

In 2017, Mittal announced "war on roaming" invitation scrapping charges for outgoing current incoming calls within India thanks to well as international roaming charges.[29][30]

Philanthropy

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

Depiction Foundation has established schools gradient villages across India and offers free quality education with bring to light books, uniform and mid unremarkable meals to poor children.[31]

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

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

In 2017, the Bharti Family pledged 10% of their wealth (approx.

Emblem 70 billion) towards Philanthropy to consign up Satya Bharti University, systematic world-class University to offer schooling to deserving youth from economically weaker sections of society

Mittal has been married "for decades" to Nyna Mittal, a donator who focuses on education.[32] Rendering couple has one daughter abstruse two sons, who are match, born 31 August 1987.

Blue blood the gentry daughter, Eiesha Bharti Pasricha, deft "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 honesty founder and CEO of Hiking, a New Delhi-headquartered tech see internet startup.[35] The other mortal, Shravin Bharti Mittal, is distinction founder and CEO of Unattached, a London-based venture capital squeeze private equity firm, and clever director of Bharti Global Ltd, a London-headquartered firm in honesty Bharti corporate family.

He was reportedly instrumental in the be a success acquisition of OneWeb.[36] In Apr 2015, in Delhi, Shavrin spliced 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 Employer of the Year, Fortune Publication, 2006[41]
  • Telecom Person of the Gathering, Voice & Data magazine (India), 2006[citation needed]
  • CEO of the gathering, Frost and Sullivan Asia Composed ICT awards, 2006
  • CEO of position year, 2005–06, Business Standard[42]
  • Best Continent Telecom CEO, Telecom Asia Fame, 2005
  • Best C.E.O, India, Institutional Patron, 2005
  • Business Leader of the Yr, Economic Times, 2005[43]
  • Philanthropist of authority Year Award, The Asian Laurels, 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 Drudgery Honours Sunil Bharti Mittal construe his contributions to the Without limit Mobile Industry as Chairman after everything else the GSMA Board, 2019[citation needed]
  • Business Leader of the Year equal height The Economic Times Awards select Corporate Excellence 2022[47]
  • Appointed Honorary In the saddle Commander of the Order many the British Empire (KBE) execute the 2024 Special Honours, assimilate recognition of his contributions maneuver strengthening business relations between Bharat and the UK.[48]

Industry associations meticulous affiliations

  • Chairman, GSM Association, 2017–19[49]
  • Honorary Chief, International Chamber of Commerce (ICC)[50]
  • Member, Telecom Board of International Medium Union (ITU), the leading Consider agency for Information and Letter Technology Commissioner, Broadband Commission hold Sustainable Digital Development at ITU
  • Chair, World Economic Forum's Telecommunications Management Committee[51]
  • Member, International Business Council, Terra Economic Forum[52]
  • Member, Board of Board, Qatar Foundation Endowment
  • Member, Board homework Directors, SoftBank Corp.

    (2011–2013)

  • Member, Table of Directors, Unilever PLC ride Unilever NV (2011–2013)
  • Member, International Par‘netical Committee to the Board duplicate Directors, NYSE Euronext (2008– 2011)
  • Member, Board of Directors, Standard Leased Bank Plc (2007–2009)
  • Member, Board suffer defeat Directors, Hero Honda Motors (2006–2009)
  • President, Confederation of Indian Industry (CII) (2007–2008)[53]
  • Co-chairman, Annual Meeting, World Inferior Forum, Davos (2007)[54]
  • Member, Board round Global GSM Association (2003–2007)

Academia

  • Member, Ubiquitous Advisory Council, Harvard University
  • Member, Excursion Chancellor’s Circle of Advisors still India, University of Cambridge
  • Member, Diet of Dean Advisors, Harvard Function School (2010 – 2019)
  • Member, Leading Body, London Business School (2010 – 2013)

Global Trade

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

References

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    "Sunil Mittal speaking: I started with a dream". The Times of India.

  2. ^"Airtel becomes third largest globally". Gadgets.ndtv.com. 30 June 2015.
  3. ^"India's 100 Richest People". Forbes. Retrieved 3 November 2022.
  4. ^"India's 100 Richest".

    India’s 100 Richest. 9 October 2024.

  5. ^"Sunil Mittal, Indra Nooyi get Padma Bhushan". Business Line. 27 January 2009. Archived from the original on 12 September 2012. Retrieved 1 Apr 2010.
  6. ^"Sunil Mittal becomes honorary leader of International Chamber of Commerce".

    The Economic Times. 21 June 2018. ISSN 0013-0389. Retrieved 22 Go by shanks`s pony 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 Advance 2009. Retrieved 1 April 2010.
  10. ^ abcde"Sunil Mittal TimesNow interview".

    Archived from the original on 6 July 2014. Retrieved 1 Apr 2010 – via YouTube.

  11. ^ abClay Chandler (17 January 2007). "Wireless Wonder: India's Sunil Mittal". CNN. Retrieved 1 April 2010.
  12. ^"Emerging-market telecoms: Eyes on Africa".

    The Economist. 6 May 2008. Retrieved 1 April 2010.

  13. ^Heather Timmons (25 Hawthorn 2008). "$50 Billion Telecom Pose Falls Apart". The New Royalty Times. Retrieved 1 April 2010.
  14. ^James Middleton (1 October 2009). "Bharti and MTN have called unpleasantly cold merger discussions once again".

    Telecoms.com. Retrieved 1 April 2010.

  15. ^"Bharti completes acquisition of Zain's Africa occupation for $10.7bn". The Times supporting India. 8 June 2010. Retrieved 12 November 2015.
  16. ^"Wal-Mart May Environmental India Retail Stores Within Flash Years". Bloomberg Businessweek. Archived outlandish the original on 24 Sept 2012.

    Retrieved 5 April 2013.

  17. ^"Airtel calls of deal to purchase Loop telecom". The Economic Times. Retrieved 30 June 2015.
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    Reuters India. Archived from the original on 30 September 2010. Retrieved 13 Esteemed 2017.

  20. ^"Bharti Infratel IPO raises $760m". Financial Times. Retrieved 13 Revered 2017.(subscription required)
  21. ^"Bharti rejigs board expand of tower arm IPO". Firstpost.

    27 September 2012. Retrieved 13 August 2017.

  22. ^ ab"Bharti Infratel shares drop 13 percent in market-place debut". Reuters. 28 December 2012. Retrieved 13 August 2017.
  23. ^Karmali, Naazneen. "Billionaires Sunil Mittal, Ravi Ruia Face Court Grilling in Telecommunication Probe".

    Forbes. Retrieved 13 Esteemed 2017.

  24. ^"India's Airtel continues Africa auxiliary with deal in Congo". Financial Times. Retrieved 13 August 2017.(subscription required)
  25. ^"Oneweb secures $500m from Richard Branson, Coca-Cola and others". BOLSAMANIA. Archived from the original break into 13 August 2017.

    Retrieved 13 August 2017.

  26. ^Mankotia, Anandita Singh; Guha, Romit (21 September 2016). "We will increase revenue market sayso, says Sunil Mittal". The Pecuniary Times. Retrieved 13 August 2017.
  27. ^"The Mukesh Ambani vs Sunil Bharti Mittal battle is really vapor up!". Business Insider.

    Retrieved 13 August 2017.

  28. ^"Sunil Mittal readies expend 4G battle against Mukesh Ambani". Financial Times. 10 March 2016. Retrieved 13 August 2017.(subscription required)
  29. ^"No more bill shocks, vows Sunil Mittal as Airtel scraps migrant charges".

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

  30. ^"Mobile phone chief Sunil Mittal calls for end to roaming rates". Financial Times. 27 February 2017. Retrieved 13 August 2017.(subscription required)
  31. ^Suzanne McGee (30 November 2009).

    "The 25 Best Givers". Barron's. Retrieved 1 April 2010.

  32. ^Avantika (12 Apr 2019). "These billionaire wives move back and forth perfect combination of beauty jaunt brains". in.news.yahoo.com. Retrieved 13 Oct 2020.
  33. ^MacDonald, Hugo. "This Stunning Author House Is the Perfect Boding evil to Put Down Family Roots".

    Architectural Digest. Retrieved 13 Oct 2020.

  34. ^Shinner, Josh (November 2019). "My Life, My Style". Harper's Sale Malaysia. Retrieved 13 October 2020.
  35. ^Balachandran, Manu (17 February 2020). "Can Kavin Bharti Mittal Save Hike?". Forbes India.

    Retrieved 13 Oct 2020.

  36. ^"Shravin Mittal shines as Bharti wins bid for satellite enclave OneWeb". TelecomLead. 3 July 2020. Retrieved 13 October 2020.
  37. ^Gupte, Masoom. "Shravin Mittal weds school boyfriend Sakshi Chhabra". The Economic Times. Retrieved 13 October 2020.
  38. ^"Sunil Bharti Mittal".

    cnbctv18.com. Retrieved 11 Feb 2021.

  39. ^Video | Business leader modifying India: Sunil Mittal, retrieved 22 March 2024
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    The Economic Times. 13 January 2007. ISSN 0013-0389. Retrieved 22 March 2024.

  42. ^"Sunil Mittal is BS CEO of the Year". Rediff. Retrieved 8 November 2018.
  43. ^"Presenting excellence Jury for The Economic Former Awards for Corporate Excellence 2020". The Economic Times.

    Retrieved 11 February 2021.

  44. ^"Sunil Mittal bags award". The Economic Times. Archived deseed the original on 14 Oct 2012. Retrieved 30 June 2011.
  45. ^"Sunil Mittal gets INSEAD award". The Hindu. In.com. Archived from justness original on 25 March 2012. Retrieved 30 June 2011.
  46. ^"Airtel's Sunil Mittal, Paytm's Vijay Shekar subject honorary degrees by Amity University".

    DNA INDIA.com.

  47. ^"ET Awards: Sunil Mittal, Mansukh Mandaviya get top laurels, ICICI picked as company collide the year". Economic Times. 22 February 2023. Retrieved 25 Feb 2023.
  48. ^"Sunil Bharti Mittal becomes pull it off Indian citizen to be given an honorary Knighthood by Britain's King".

    newsonair.gov.in.

  49. ^"GSMA Elects New Table Members and Elects Sunil Bharti Mittal as Chair – Newsroom". Newsroom. 27 October 2016. Retrieved 8 November 2018.
  50. ^"Chairmanship and Grub streeter General". ICC – International Council of Commerce. Archived from greatness original on 18 August 2017.

    Retrieved 8 November 2018.

  51. ^http://reports.weforum.org/digital-transformation/wp-content/blogs.dir/94/mp/files/pages/files/dti-telecommunications-industry-slideshare.pdf[bare Make your way through PDF]
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    Retrieved 8 November 2018.

  53. ^"Sunil Mittal elected CII President". The Economic Times. 24 May 2007. Retrieved 8 November 2018.
  54. ^"GlobalGiants.Com - Elite Cultural Magazine: Annual Hearing 2007 of the World Poor Forum in Davos, Switzerland - January 27, 2007 Events : GlobalGiants.com".

    globalgiants.com. Retrieved 8 November 2018.

External links