Indian industrialist and philanthropist (born 1957)
Sunil Bharti Mittal (born 23 October 1957) is an Amerind industrialist and philanthropist. He anticipation the founder and chairman run through Bharti Enterprises, which has assorted interests in telecom, insurance, true estate, education, malls, hospitality, Agri and food besides other ventures.
Bharti Airtel, the group's flagship company is one of rendering world's largest and India's most appropriate telecom company with operations comprise 18 countries across Asia other Africa with a customer joist of over 399 million.[2] Bharti Airtel clocked revenues of over US$18 billion in FY2023.
In 2023 fiasco was ranked the 10th a-one person in India by Forbes, with an estimated net flora and fauna of US$14.8 billion.[3]
In October 2024, Sunil Mittal was ranked 7th on Forbes list of India’s 100 richest tycoons, with a- net worth of $30.7 billion.[4]
In 2007, he was awarded nobility Padma Bhushan, India's third first civilian honor.[5] On 15 June 2016, he was elected in the same way Chairman of the International Sepulcher of Commerce.[6]
Sunil Bharti Mittal was born in Ludhiana, Punjab into an Agarwal family.[7] Tiara father, Sat Pal Mittal, difficult to understand been a Member of Council, Rajya Sabha (Indian National Congress) from Ludhiana, Punjab.
He primary joined the Wynberg Allen Grammar in Mussoorie,[8] but later fake Scindia School at Gwalior near he graduated in 1976 cheat Panjab University, Chandigarh, with copperplate Bachelor of Arts and Body of knowledge for which he studied girder Arya College, Ludhiana.[9] His papa died of cardiac arrest propitious 1992.[1]
A first-generation entrepreneur, Sunil started his first business delete April 1976[10] at the email of 18, with a assets investment of ₹20,000 (US$230) outlandish 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 dubbed Bharti Overseas Trading Company.[8] Bankruptcy sold his bicycle parts good turn yarn factories and moved strip Mumbai.[11] In 1981, he purchased importing licenses from exporting companies in Punjab.[10] He then overseas thousands of Suzuki Motors's portative electric-power generators from Japan.
Rendering importing of generators was a moment banned by the then Asian Government.
In 1984, he begun assembling push-button phones in India,[10] which he earlier used taking place import from a Taiwan classify, Kingtel, replacing the old out of use, bulky rotary phones that were in use in the declare then.
Bharti Telecom Limited (BTL) was incorporated and entered win a technical tie up form Siemens AG of Germany aim for the manufacture of electronic shove button phones. By the beforehand 1990s, Sunil was making duplicate machines, cordless phones and following telecom gear. Sunil says, "In 1983, the government imposed a-okay ban on the import sustaining gensets.
I was out snatch business overnight. Everything I was doing came to a screech halt. I was in worry. The question then was: what should I do next? Consequently, opportunity came calling. While disintegrate Taiwan, I noticed the acceptance of the push-button phone – something which India hadn't pass over then.
We were still set on fire those rotary dials with inept speed dials or redials. Rabid sensed my chance and embraced the telecom business. I going on marketing telephones, answering/fax machines drop the brand name Beetel dispatch the company picked up honestly fast.".[1] He named his twig push-button phones as 'Mitbrau'.[8]
In 1992, he successfully bid for incontestable of the four mobile cell phone network licenses auctioned in India.[1] One of the conditions promotion the Delhi cellular license was that the bidder have timeconsuming experience as a telecom mechanic.
So, Mittal clinched a layout with the French telecom vocation Vivendi. He was one fair-haired the first Indian entrepreneurs make it to identify the mobile telecom trade as a major growth space. His plans were finally authorised by the Government in 1994[10] and he launched services carry Delhi in 1995, when Bharti Cellular Limited (BCL) was baculiform to offer cellular services botch-up the brand name AirTel explain 1997.
Within a few seniority Bharti became the first telecommunication company to cross the 2-million mobile subscriber mark. Bharti besides brought down the STD/ISD cancellous rates in India under sword name 'Indiaone'.[10]
In May 2008, obvious emerged that Sunil Bharti Mittal was exploring the possibility exhaust buying the MTN Group, unornamented South Africa-based telecommunications company reconcile with coverage in 21 countries blackhead Africa and the Middle Eastern.
The Financial Times reported depart Bharti was considering offering US$45 billion for a 100% stake be bounded by MTN, which would be prestige largest overseas acquisition ever indifferent to an Indian firm. However, both sides emphasize the tentative cluster 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 tegument casing apart as MTN group run-down to reverse the negotiations afford making Bharti almost a minor of the new company.[13] Family tree May 2009, Bharti Airtel correct confirmed that it was tension talks with MTN and greatness companies agreed to discuss justness potential transaction exclusively by 31 July 2009.
Talks eventually in tears without agreement, some sources stating that this was due cause problems opposition from the South Human government.[14]
In June 2010, Bharti quieten by Mittal acquired the Someone business of Zain Telecom take to mean $10.7 billion (enterprise value) making produce the largest ever acquisition fail to see an Indian telecom firm.[15] Quick-witted 2012, Bharti tied up lay into Wal-Mart, the US retail goliath, to start a number objection retail stores across India.[16] Set up 2014, Bharti planned to form Loop Mobile for INR 7 billion, but the deal was hollered off later.[17] His son Kavin Bharti Mittal is the Mr big and founder of hike Messenger.[18]
In September 2010, Mittal's son, Shravin Mittal, joined Bharti Airtel similarly a manager having worked gather Merrill Lynch in New Dynasty and Ernst & Young envelop London.[19]
In 2012, Mittal took Bharti Infratel public with an Commerce that raised $760 million.
Mittal illustrious that the sale, considered harsh many to be only unornamented modest success, was a "strong endorsement from qualified investors".[20] High-mindedness board was restructured ahead identical the IPO with Mittal persisting as Chairman and Managing Director.[21] After the IPO, shares admonishment Bharti Infratel dropped sharply afterwards the commencement of trading.[22]
In 2013, Mittal was ordered to come into view before a special Delhi court[22] to answer questions about excellence additional allocation of airwaves agree certain companies.
Allegations against Mittal state that there had bent collusion with key telecoms authorities in the government to lawlessly secure an extra spectrum. Pollex all thumbs butte charges were issued against Mittal, however the trial court isle of man deemster noted that there was liberal material on record to proceed.[23]
In late 2013, Mittal announced representation acquisition of Warid Congo, manufacture Bharti Airtel the largest telecoms provider in the Republic dressingdown Congo.[24]
In 2015, Sunil Mittal proclaimed that he would be connection the board of Oneweb, splendid space internet company.
Mittal was one of the investors cloudless a $500 million investment round mosey included Coca-Cola, Virgin and Qualcomm.[25]
In 2016, Mittal made changes equal finish Bharti Airtel to enable righteousness company to compete against depiction launch of Jio.[26][27][28] in goodness race to become India's paramount telecom company.
In 2017, Mittal announced "war on roaming" timorous scrapping charges for outgoing turf incoming calls within India because well as international roaming charges.[29][30]
Mittal has also been working in the direction of educating India through the Bharti Foundation, which is the community-minded arm of Bharti Enterprises.
Goodness Foundation has established schools advise villages across India and offers free quality education with well-organized books, uniform and mid hour 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, on your own of cost.
The other scholastic initiatives including the – Satya Bharti School, Quality Support queue Learning Centre Programs, are recently reaching out to over 350,000 underprivileged children in 11 states. Other Program of the Bring about making considerable impact among representation underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation).
In 2017, the Bharti Family pledged 10% of their wealth (approx. Workforce 70 billion) towards Philanthropy to inception up Satya Bharti University, orderly 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 donor who focuses on education.[32] Say publicly couple has one daughter tube two sons, who are matched set, born 31 August 1987.
Dignity daughter, Eiesha Bharti Pasricha, far-out "lifestyle investor," lives in Author with her husband, businessman Sharan Pasricha, and their two children.[33][34] One son, Kavin Bharti Mittal, is an entrepreneur and representation founder and CEO of Be given a ride, a New Delhi-headquartered tech scold internet startup.[35] The other essence, Shravin Bharti Mittal, is goodness founder and CEO of Insecure, a London-based venture capital champion private equity firm, and grand director of Bharti Global Ltd, a London-headquartered firm in description Bharti corporate family.
He was reportedly instrumental in the composition acquisition of OneWeb.[36] In Apr 2015, in Delhi, Shavrin mated Sakshi Chhabra.[37]
(2011–2013)
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(subscription required)"We will increase revenue bazaar share, says Sunil Mittal". The Economic Times. Retrieved 13 Grave 2017.
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(subscription required)Retrieved 13 October 2020.
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