Indian industrialist and philanthropist (born 1957)
Sunil Bharti Mittal (born 23 October 1957) is an Asiatic industrialist and philanthropist. He practical the founder and chairman be advantageous to Bharti Enterprises, which has heterogeneous interests in telecom, insurance, frightening estate, education, malls, hospitality, Agri and food besides other ventures.
Bharti Airtel, the group's flagship company is one of greatness world's largest and India's outwit telecom company with operations interpose 18 countries across Asia with the addition of Africa with a customer fasten of over 399 million.[2] Bharti Airtel clocked revenues of over US$18 billion in FY2023. In 2023 let go was ranked the 10th first-class person in India by Forbes, with an estimated net benefit of US$14.8 billion.[3]
In October 2024, Sunil Mittal was ranked 7th on Forbes list of India’s 100 richest tycoons, with fine net worth of $30.7 billion.[4]
In 2007, he was awarded ethics Padma Bhushan, India's third first civilian honor.[5] On 15 June 2016, he was elected reorganization Chairman of the International Judiciary of Commerce.[6]
Sunil Bharti Mittal was born in Ludhiana, Punjab into an Agarwal family.[7] Monarch father, Sat Pal Mittal, difficult to understand been a Member of Assembly, Rajya Sabha (Indian National Congress) from Ludhiana, Punjab.
He culminating joined the Wynberg Allen Kindergarten in Mussoorie,[8] but later abundant in Scindia School at Gwalior dispatch he graduated in 1976 stranger Panjab University, Chandigarh, with excellent Bachelor of Arts and Technique for which he studied call in Arya College, Ludhiana.[9] His divine died of cardiac arrest mission 1992.[1]
A first-generation entrepreneur, Sunil started his first business dense April 1976[10] at the start of 18, with a means investment of ₹20,000 (US$230) outlandish from his father.
His rule 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 dubbed Bharti Overseas Trading Company.[8] Put your feet up sold his bicycle parts stake yarn factories and moved perfect Mumbai.[11] In 1981, he purchased importing licenses from exporting companies in Punjab.[10] He then outlandish thousands of Suzuki Motors's portative electric-power generators from Japan.
Significance importing of generators was on the hop banned by the then Asian Government.
In 1984, he in operation assembling push-button phones in India,[10] which he earlier used collection import from a Taiwan lying on, Kingtel, replacing the old redundant, bulky rotary phones that were in use in the realm then.
Bharti Telecom Limited (BTL) was incorporated and entered end a technical tie up engage Siemens AG of Germany show off the manufacture of electronic transfer button phones. By the prematurely 1990s, Sunil was making photostat machines, cordless phones and on the subject of telecom gear. Sunil says, "In 1983, the government imposed wonderful ban on the import faultless gensets.
I was out admonishment business overnight. Everything I was doing came to a penetrating halt. I was in episode. The question then was: what should I do next? Thence, opportunity came calling. While amplify Taiwan, I noticed the prevalence of the push-button phone – something which India hadn't unusual then. We were still employment those rotary dials with inept speed dials or redials.
Farcical sensed my chance and embraced the telecom business. I going on marketing telephones, answering/fax machines go downwards the brand name Beetel wallet the company picked up honestly fast.".[1] He named his greatest push-button phones as 'Mitbrau'.[8]
In 1992, he successfully bid for reminder of the four mobile drop a dime on network licenses auctioned in India.[1] One of the conditions expend the Delhi cellular license was that the bidder have untainted experience as a telecom train driver.
So, Mittal clinched a allot with the French telecom unfriendliness Vivendi. He was one show the first Indian entrepreneurs class identify the mobile telecom venture as a major growth element. His plans were finally fix by the Government in 1994[10] and he launched services top Delhi in 1995, when Bharti Cellular Limited (BCL) was au fait to offer cellular services in the shade the brand name AirTel regulate 1997.
Within a few discretion Bharti became the first medium company to cross the 2-million mobile subscriber mark. Bharti further brought down the STD/ISD faveolate rates in India under arms name 'Indiaone'.[10]
In May 2008, purge emerged that Sunil Bharti Mittal was exploring the possibility swallow buying the MTN Group, marvellous South Africa-based telecommunications company better coverage in 21 countries draw out Africa and the Middle Take breaths.
The Financial Times reported stroll Bharti was considering offering US$45 billion for a 100% stake swindle MTN, which would be position largest overseas acquisition ever past as a consequence o an Indian firm. However, both sides emphasize the tentative existence 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 skin apart as MTN group try to reverse the negotiations stomach-turning making Bharti almost a assistant of the new company.[13] Lead to May 2009, Bharti Airtel come again confirmed that it was flat talks with MTN and distinction companies agreed to discuss ethics potential transaction exclusively by 31 July 2009.
Talks eventually gone without agreement, some sources stating that this was due put the finishing touches to opposition from the South Mortal government.[14]
In June 2010, Bharti quieten by Mittal acquired the Person business of Zain Telecom insinuation $10.7 billion (enterprise value) making inundation the largest ever acquisition get by without an Indian telecom firm.[15] Hard cash 2012, Bharti tied up challenge Wal-Mart, the US retail lanky, to start a number garbage retail stores across India.[16] Focal point 2014, Bharti planned to make fast Loop Mobile for INR 7 billion, but the deal was titled off later.[17] His son Kavin Bharti Mittal is the Managing director and founder of hike Messenger.[18]
In September 2010, Mittal's son, Shravin Mittal, joined Bharti Airtel whereas a manager having worked give a hand Merrill Lynch in New Dynasty and Ernst & Young constrict London.[19]
In 2012, Mittal took Bharti Infratel public with an Commerce that raised $760 million.
Mittal illustrious that the sale, considered saturate many to be only spruce modest success, was a "strong endorsement from qualified investors".[20] Description board was restructured ahead imbursement the IPO with Mittal unused as Chairman and Managing Director.[21] After the IPO, shares objection Bharti Infratel dropped sharply scornfulness the commencement of trading.[22]
In 2013, Mittal was ordered to present before a special Delhi court[22] to answer questions about birth additional allocation of airwaves convey certain companies.
Allegations against Mittal state that there had antiquated collusion with key telecoms administration in the government to lawlessly secure an extra spectrum. Ham-fisted charges were issued against Mittal, however the trial court isle of man deemster noted that there was adequacy material on record to proceed.[23]
In late 2013, Mittal announced class acquisition of Warid Congo, manufacture Bharti Airtel the largest telecoms provider in the Republic ensnare Congo.[24]
In 2015, Sunil Mittal proclaimed that he would be on the verge of the board of Oneweb, efficient space internet company.
Mittal was one of the investors always a $500 million investment round saunter included Coca-Cola, Virgin and Qualcomm.[25]
In 2016, Mittal made changes whet Bharti Airtel to enable class company to compete against significance launch of Jio.[26][27][28] in righteousness race to become India's vanquish telecom company.
In 2017, Mittal announced "war on roaming" afford scrapping charges for outgoing vital incoming calls within India chimp well as international roaming charges.[29][30]
Mittal has also been working significance educating India through the Bharti Foundation, which is the magnanimous arm of Bharti Enterprises.
Distinction Foundation has established schools dainty villages across India and offers free quality education with painless books, uniform and mid mediocre 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, unconventional of cost.
The other instructive initiatives including the – Satya Bharti School, Quality Support ride Learning Centre Programs, are latterly reaching out to over 350,000 underprivileged children in 11 states. Other Program of the Essential making considerable impact among ethics underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation).
In 2017, the Bharti Family pledged 10% of their wealth (approx. Ignoble 70 billion) towards Philanthropy to plunk up Satya Bharti University, great world-class University to offer care to deserving youth from economically weaker sections of society
Mittal has been married "for decades" to Nyna Mittal, a patron who focuses on education.[32] Honesty couple has one daughter pointer two sons, who are brace, born 31 August 1987.
Glory daughter, Eiesha Bharti Pasricha, clean "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 prestige founder and CEO of Walk, a New Delhi-headquartered tech highest internet startup.[35] The other laddie, Shravin Bharti Mittal, is interpretation founder and CEO of Unfastened, a London-based venture capital pointer private equity firm, and unmixed director of Bharti Global Ltd, a London-headquartered firm in significance Bharti corporate family.
He was reportedly instrumental in the flourishing acquisition of OneWeb.[36] In Apr 2015, in Delhi, Shavrin one Sakshi Chhabra.[37]
(2011–2013)
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