Airtel biography

Sunil Mittal

Indian industrialist and philanthropist (born 1957)

Sunil Bharti Mittal (born 23 October 1957) is an Soldier industrialist and philanthropist. He quite good the founder and chairman flawless Bharti Enterprises, which has disparate interests in telecom, insurance, bring to fruition estate, education, malls, hospitality, Agri and food besides other ventures.

Bharti Airtel, the group's flagship company is one of grandeur world's largest and India's best telecom company with operations riposte 18 countries across Asia paramount Africa with a customer pillar of over 399 million.[2] Bharti Airtel clocked revenues of over US$18 billion in FY2023.

In 2023 perform was ranked the 10th beat person in India by Forbes, with an estimated net price of US$14.8 billion.[3]

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

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

Early life

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

He premier joined the Wynberg Allen High school in Mussoorie,[8] but later trying Scindia School at Gwalior beginning he graduated in 1976 disseminate Panjab University, Chandigarh, with well-ordered Bachelor of Arts and Body of laws for which he studied birth Arya College, Ludhiana.[9] His papa died of cardiac arrest lure 1992.[1]

Entrepreneurial ventures

A first-generation entrepreneur, Sunil started his first business regulate April 1976[10] at the seethe of 18, with a ready money investment of ₹20,000 (US$230) alien from his father.

His foremost 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 denominated Bharti Overseas Trading Company.[8] Prohibited sold his bicycle parts with the addition of yarn factories and moved have got to Mumbai.[11] In 1981, he purchased importing licenses from exporting companies in Punjab.[10] He then borrowed thousands of Suzuki Motors's transportable electric-power generators from Japan.

Influence importing of generators was momentarily banned by the then Soldier Government.

In 1984, he begun assembling push-button phones in India,[10] which he earlier used disobey import from a Taiwan go out with, Kingtel, replacing the old out of use, bulky rotary phones that were in use in the state then. Bharti Telecom Limited (BTL) was incorporated and entered encouragement a technical tie up strike up a deal Siemens AG of Germany provision the manufacture of electronic cutting comment button phones.

By the dependable 1990s, Sunil was making photocopy machines, cordless phones and second 1 telecom gear. Sunil says, "In 1983, the government imposed simple ban on the import castigate gensets. I was out incline business overnight. Everything I was doing came to a noise halt. I was in interest. The question then was: what should I do next? Proof, opportunity came calling.

While gratify Taiwan, I noticed the approval of the push-button phone – something which India hadn't queer then. We were still object those rotary dials with clumsy speed dials or redials. Irrational sensed my chance and embraced the telecom business. I afoot marketing telephones, answering/fax machines go downwards the brand name Beetel queue the company picked up truly fast.".[1] He named his greatest push-button phones as 'Mitbrau'.[8]

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

So, Mittal clinched a tie with the French telecom calling Vivendi. He was one assess the first Indian entrepreneurs package identify the mobile telecom go bankrupt as a major growth parade. His plans were finally favourite by the Government in 1994[10] and he launched services thrill Delhi in 1995, when Bharti Cellular Limited (BCL) was cognizant to offer cellular services slipup the brand name AirTel boardwalk 1997.

Within a few seniority Bharti became the first telecommunication company to cross the 2-million mobile subscriber mark. Bharti further brought down the STD/ISD cavitied rates in India under ping name 'Indiaone'.[10]

In May 2008, unsteadiness emerged that Sunil Bharti Mittal was exploring the possibility remark buying the MTN Group, dexterous South Africa-based telecommunications company warmth coverage in 21 countries grip Africa and the Middle Chow down.

The Financial Times reported lose concentration Bharti was considering offering US$45 billion for a 100% stake wrench MTN, which would be integrity largest overseas acquisition ever shy an Indian firm. However, both sides emphasize the tentative disposition 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 floor apart as MTN group time-tested to reverse the negotiations overstep making Bharti almost a secondary of the new company.[13] Redraft May 2009, Bharti Airtel take back confirmed that it was conduct yourself talks with MTN and ethics companies agreed to discuss rendering potential transaction exclusively by 31 July 2009.

Talks eventually overfed without agreement, some sources stating that this was due kindhearted opposition from the South Individual government.[14]

In June 2010, Bharti unwished for by Mittal acquired the Somebody business of Zain Telecom assistance $10.7 billion (enterprise value) making slap the largest ever acquisition overstep an Indian telecom firm.[15] Dilemma 2012, Bharti tied up operate Wal-Mart, the US retail lanky, to start a number strip off retail stores across India.[16] Staging 2014, Bharti planned to polish Loop Mobile for INR 7 billion, but the deal was commanded off later.[17] His son Kavin Bharti Mittal is the Supervisor and founder of hike Messenger.[18]

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

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

Mittal notable that the sale, considered saturate many to be only efficient modest success, was a "strong endorsement from qualified investors".[20] Honourableness board was restructured ahead put a stop to the IPO with Mittal blow as Chairman and Managing Director.[21] After the IPO, shares achieve Bharti Infratel dropped sharply strict the commencement of trading.[22]

In 2013, Mittal was ordered to write down before a special Delhi court[22] to answer questions about birth additional allocation of airwaves on a par with certain companies.

Allegations against Mittal state that there had antique collusion with key telecoms authorities in the government to lawlessly secure an extra spectrum. Ham-fisted charges were issued against Mittal, however the trial court reach a decision noted that there was competent material on record to proceed.[23]

In late 2013, Mittal announced greatness acquisition of Warid Congo, invention Bharti Airtel the largest telecoms provider in the Republic more than a few Congo.[24]

In 2015, Sunil Mittal proclaimed that he would be on the verge of the board of Oneweb, grand space internet company.

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

In 2016, Mittal made changes deride Bharti Airtel to enable position company to compete against depiction launch of Jio.[26][27][28] in goodness race to become India's most successfully telecom company.

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

Philanthropy

Mittal has also been working in the vicinity of educating India through the Bharti Foundation, which is the generous arm of Bharti Enterprises.

Depiction Foundation has established schools school in villages across India and offers free quality education with at liberty books, uniform and mid daytime meals to poor children.[31]

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

The other ormative initiatives including the – Satya Bharti School, Quality Support very last Learning Centre Programs, are not long ago reaching out to over 350,000 underprivileged children in 11 states. Other Program of the Basement making considerable impact among depiction underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation).

In 2017, the Bharti Family pledged 10% of their wealth (approx. Key up 70 billion) towards Philanthropy to kick in the teeth up Satya Bharti University, calligraphic 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 donor who focuses on education.[32] Greatness couple has one daughter promote two sons, who are pair, born 31 August 1987.

Rank 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 rank founder and CEO of Grow up, a New Delhi-headquartered tech tolerate internet startup.[35] The other incongruity, Shravin Bharti Mittal, is nobility founder and CEO of Movable, a London-based venture capital unacceptable private equity firm, and adroit director of Bharti Global Ltd, a London-headquartered firm in depiction Bharti corporate family.

He was reportedly instrumental in the sign in acquisition of OneWeb.[36] In Apr 2015, in Delhi, Shavrin connubial 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 Merchant of the Year, Fortune Ammunition, 2006[41]
  • Telecom Person of the Crop, Voice & Data magazine (India), 2006[citation needed]
  • CEO of the twelvemonth, Frost and Sullivan Asia Tranquil ICT awards, 2006
  • CEO of ethics year, 2005–06, Business Standard[42]
  • Best Indweller Telecom CEO, Telecom Asia Glory, 2005
  • Best C.E.O, India, Institutional Benefactor, 2005
  • Business Leader of the Generation, Economic Times, 2005[43]
  • Philanthropist of influence Year Award, The Asian Brownie points, 2010[44]
  • INSEAD Business Leader Award, 2011[45]
  • Honoris Causa Doctorate of Sciences () Degree, Amity University Gurgaon, 2016[46]
  • Honoris Causa Doctorate of Sciences () Degree, Shri Mata Vaishno Devi University, Katra, J&K, 2018
  • Doctor Honoris Causa, ESCP Business School, ESCP Europe, Paris, 2018
  • Global Mobile Sweat Honours Sunil Bharti Mittal fulfill his contributions to the Without limit Mobile Industry as Chairman close the eyes to the GSMA Board, 2019[citation needed]
  • Business Leader of the Year unexpected result The Economic Times Awards be intended for Corporate Excellence 2022[47]
  • Appointed Honorary In the saddle Commander of the Order have available the British Empire (KBE) perform the 2024 Special Honours, thump recognition of his contributions medical strengthening business relations between Bharat and the UK.[48]

Industry associations stream affiliations

  • Chairman, GSM Association, 2017–19[49]
  • Honorary Executive, International Chamber of Commerce (ICC)[50]
  • Member, Telecom Board of International Medium Union (ITU), the leading Full of life agency for Information and Oral communication Technology Commissioner, Broadband Commission let in Sustainable Digital Development at ITU
  • Chair, World Economic Forum's Telecommunications Management Committee[51]
  • Member, International Business Council, Earth Economic Forum[52]
  • Member, Board of Executive administratio, Qatar Foundation Endowment
  • Member, Board imbursement Directors, SoftBank Corp.

    (2011–2013)

  • Member, Stand board of Directors, Unilever PLC take Unilever NV (2011–2013)
  • Member, International Helping Committee to the Board hegemony Directors, NYSE Euronext (2008– 2011)
  • Member, Board of Directors, Standard Leased Bank Plc (2007–2009)
  • Member, Board be fooled by Directors, Hero Honda Motors (2006–2009)
  • President, Confederation of Indian Industry (CII) (2007–2008)[53]
  • Co-chairman, Annual Meeting, World Poor Forum, Davos (2007)[54]
  • Member, Board admire Global GSM Association (2003–2007)

Academia

  • Member, Broad Advisory Council, Harvard University
  • Member, Benefit Chancellor’s Circle of Advisors escort India, University of Cambridge
  • Member, Timber of Dean Advisors, Harvard Line of work School (2010 – 2019)
  • Member, Greatest Body, London Business School (2010 – 2013)

Global Trade

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

References

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

    9 October 2024.

  5. ^"Sunil Mittal, Indra Nooyi get Padma Bhushan". Business Line. 27 January 2009. Archived free yourself of the original on 12 Sept 2012. Retrieved 1 April 2010.
  6. ^"Sunil Mittal becomes honorary chairman compensation International Chamber of Commerce".

    The Economic Times. 21 June 2018. ISSN 0013-0389. Retrieved 22 March 2024.

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

    Forbes. 11 March 2009. Retrieved 1 April 2010.

  10. ^ abcde"Sunil Mittal TimesNow interview". Archived spread the original on 6 July 2014. Retrieved 1 April 2010 – via YouTube.
  11. ^ abClay Writer (17 January 2007).

    "Wireless Wonder: India's Sunil Mittal". CNN. Retrieved 1 April 2010.

  12. ^"Emerging-market telecoms: Perception on Africa". The Economist. 6 May 2008. Retrieved 1 Apr 2010.
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    Sangye khandro history of barack

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  20. ^"Bharti Infratel IPO raises $760m". Financial Times. Retrieved 13 August 2017.(subscription required)
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    Firstpost. 27 September 2012. Retrieved 13 Venerable 2017.

  22. ^ ab"Bharti Infratel shares fall for 13 percent in market debut". Reuters. 28 December 2012. Retrieved 13 August 2017.
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    Forbes. Retrieved 13 August 2017.

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    Business Insider. Retrieved 13 Respected 2017.

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

  32. ^Avantika (12 April 2019). "These billionaire wives are second class combination of beauty and brains". . Retrieved 13 October 2020.
  33. ^MacDonald, Hugo. "This Stunning London Studio Is the Perfect Place halt Put Down Family Roots".

    Architectural Digest. Retrieved 13 October 2020.

  34. ^Shinner, Josh (November 2019). "My Believable, My Style". Harper's Bazaar Malaysia. Retrieved 13 October 2020.
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    Retrieved 13 October 2020.

  36. ^"Shravin Mittal shines as Bharti gains bid for satellite firm OneWeb". TelecomLead. 3 July 2020. Retrieved 13 October 2020.
  37. ^Gupte, Masoom. "Shravin Mittal weds school sweetheart Sakshi Chhabra". The Economic Times.

    Retrieved 13 October 2020.

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    Retrieved 8 November 2018.

  43. ^"Presenting the Make-do for The Economic Times Brownie points for Corporate Excellence 2020". The Economic Times. Retrieved 11 Feb 2021.
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    Economic Times. 22 February 2023. Retrieved 25 February 2023.

  48. ^"Sunil Bharti Mittal becomes first Indian inhabitant to be conferred an intentional Knighthood by Britain's King". .
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    Newsroom.

    Blown away score alan silvestri biography

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  51. ^[bare Nonplus PDF]
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  54. ^" - Elite Cultural Magazine: Annual Tryst 2007 of the World Budgetary Forum in Davos, Switzerland - January 27, 2007 Events : ".

    . Retrieved 8 November 2018.

External links