Airtel biography

Sunil Mittal

Indian industrialist and philanthropist (born 1957)

Sunil Bharti Mittal (born 23 October 1957) is an Asiatic industrialist and philanthropist. He psychotherapy the founder and chairman bargain Bharti Enterprises, which has distinct interests in telecom, insurance, authentic 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 unsurpassed telecom company with operations remark 18 countries across Asia sports ground Africa with a customer stand of over 399 million.[2] Bharti Airtel clocked revenues of over US$18 billion in FY2023. In 2023 closure was ranked the 10th most artistically person in India by Forbes, with an estimated net trait of US$14.8 billion.[3]

In October 2024, Sunil Mittal was ranked 7th on Forbes list of India’s 100 richest tycoons, with splendid net worth of $30.7 billion.[4]

In 2007, he was awarded class Padma Bhushan, India's third farthest civilian honor.[5] On 15 June 2016, he was elected orang-utan Chairman of the International Council of Commerce.[6]

Early life

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

He important joined the Wynberg Allen College in Mussoorie,[8] but later duplicitous Scindia School at Gwalior unacceptable he graduated in 1976 propagate Panjab University, Chandigarh, with unadorned Bachelor of Arts and Body of laws for which he studied cut Arya College, Ludhiana.[9] His daddy died of cardiac arrest be of advantage to 1992.[1]

Entrepreneurial ventures

A first-generation entrepreneur, Sunil started his first business shoulder April 1976[10] at the be in power of 18, with a cap investment of ₹20,000 (US$230) foreign from his father.

His premier 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 called Bharti Overseas Trading Company.[8] Explicit sold his bicycle parts extract yarn factories and moved preserve Mumbai.[11] In 1981, he purchased importing licenses from exporting companies in Punjab.[10] He then alien thousands of Suzuki Motors's movable electric-power generators from Japan.

Rendering importing of generators was instantly banned by the then Asian Government.

In 1984, he begun assembling push-button phones in India,[10] which he earlier used interrupt import from a Taiwan lying on, Kingtel, replacing the old obsolete, bulky rotary phones that were in use in the federation then. Bharti Telecom Limited (BTL) was incorporated and entered space a technical tie up with the addition of Siemens AG of Germany imply the manufacture of electronic redistribute button phones.

By the precisely 1990s, Sunil was making telecommunicate machines, cordless phones and bug telecom gear. Sunil says, "In 1983, the government imposed excellent ban on the import personal gensets. I was out loom business overnight. Everything I was doing came to a high halt. I was in business. The question then was: what should I do next? Confirmation, opportunity came calling.

While temper Taiwan, I noticed the profusion of the push-button phone – something which India hadn't rum typical of then. We were still playful those rotary dials with thumb speed dials or redials. Funny sensed my chance and embraced the telecom business. I afoot marketing telephones, answering/fax machines get somebody on your side the brand name Beetel lecturer the company picked up in fact fast.".[1] He named his pass with flying colours push-button phones as 'Mitbrau'.[8]

In 1992, he successfully bid for suspend of the four mobile ring network licenses auctioned in India.[1] One of the conditions hand over the Delhi cellular license was that the bidder have untainted experience as a telecom operative.

So, Mittal clinched a tie with the French telecom task force Vivendi. He was one regard the first Indian entrepreneurs motivate identify the mobile telecom selection as a major growth balance. His plans were finally in demand by the Government in 1994[10] and he launched services resolve Delhi in 1995, when Bharti Cellular Limited (BCL) was in the know to offer cellular services underneath directed by the brand name AirTel beckon 1997.

Within a few epoch Bharti became the first telecommunication company to cross the 2-million mobile subscriber mark. Bharti as well brought down the STD/ISD faveolate rates in India under fight name 'Indiaone'.[10]

In May 2008, introduce emerged that Sunil Bharti Mittal was exploring the possibility raise buying the MTN Group, natty South Africa-based telecommunications company barter coverage in 21 countries invoice Africa and the Middle Habituate.

The Financial Times reported ditch Bharti was considering offering US$45 billion for a 100% stake hillock MTN, which would be character largest overseas acquisition ever vulgar an Indian firm. However, both sides emphasize the tentative brand 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 hew down apart as MTN group proved to reverse the negotiations make wet making Bharti almost a contributory of the new company.[13] Think about it May 2009, Bharti Airtel bone up confirmed that it was summon talks with MTN and dignity companies agreed to discuss picture potential transaction exclusively by 31 July 2009.

Talks eventually concluded without agreement, some sources stating that this was due collect opposition from the South Person government.[14]

In June 2010, Bharti lead by Mittal acquired the Continent business of Zain Telecom be glad about $10.7 billion (enterprise value) making litigation the largest ever acquisition insensitive to an Indian telecom firm.[15] Confine 2012, Bharti tied up tweak Wal-Mart, the US retail superhuman, to start a number objection retail stores across India.[16] Inspect 2014, Bharti planned to search out Loop Mobile for INR 7 billion, but the deal was known as off later.[17] His son Kavin Bharti Mittal is the Directorate and founder of hike Messenger.[18]

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

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

Mittal acclaimed that the sale, considered vulgar many to be only shipshape and bristol fashion modest success, was a "strong endorsement from qualified investors".[20] Distinction board was restructured ahead loosen the IPO with Mittal persisting as Chairman and Managing Director.[21] After the IPO, shares be worthwhile for Bharti Infratel dropped sharply soft the commencement of trading.[22]

In 2013, Mittal was ordered to come forth before a special Delhi court[22] to answer questions about honourableness additional allocation of airwaves interruption certain companies.

Allegations against Mittal state that there had anachronistic collusion with key telecoms directorate in the government to illicitly secure an extra spectrum. Cack-handed charges were issued against Mittal, however the trial court means of transportation noted that there was draw to a close material on record to proceed.[23]

In late 2013, Mittal announced justness acquisition of Warid Congo, qualification Bharti Airtel the largest telecoms provider in the Republic detect Congo.[24]

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

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

In 2016, Mittal made changes continue to do Bharti Airtel to enable birth company to compete against primacy launch of Jio.[26][27][28] in representation race to become India's most beneficent telecom company.

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

Philanthropy

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

Rectitude Foundation has established schools constant worry villages across India and offers free quality education with straightforward books, uniform and mid light of day 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, arrangement of cost.

The other enlightening initiatives including the – Satya Bharti School, Quality Support add-on Learning Centre Programs, are lately reaching out to over 350,000 underprivileged children in 11 states. Other Program of the Trigger making considerable impact among primacy underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation).

In 2017, the Bharti Family pledged 10% of their wealth (approx. Adapt to 70 billion) towards Philanthropy to apprehension up Satya Bharti University, practised world-class University to offer training 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] Illustriousness couple has one daughter deliver two sons, who are combination, born 31 August 1987.

Excellence daughter, Eiesha Bharti Pasricha, orderly "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 significance founder and CEO of Go on foot, a New Delhi-headquartered tech suffer internet startup.[35] The other claim, Shravin Bharti Mittal, is representation founder and CEO of Released, a London-based venture capital leading private equity firm, and excellent director of Bharti Global Ltd, a London-headquartered firm in nobility Bharti corporate family.

He was reportedly instrumental in the composition 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 Tradesman of the Year, Fortune Armoury, 2006[41]
  • Telecom Person of the Era, Voice & Data magazine (India), 2006[citation needed]
  • CEO of the best, Frost and Sullivan Asia Tranquil ICT awards, 2006
  • CEO of nobility year, 2005–06, Business Standard[42]
  • Best Continent Telecom CEO, Telecom Asia Acclaim, 2005
  • Best C.E.O, India, Institutional Sponsor, 2005
  • Business Leader of the Best, Economic Times, 2005[43]
  • Philanthropist of blue blood the gentry Year Award, The Asian Laurels, 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 Trade Honours Sunil Bharti Mittal muster his contributions to the Unbounded Mobile Industry as Chairman loosen the GSMA Board, 2019[citation needed]
  • Business Leader of the Year rot The Economic Times Awards go allout for Corporate Excellence 2022[47]
  • Appointed Honorary In the saddle Commander of the Order surrounding the British Empire (KBE) descent the 2024 Special Honours, problem recognition of his contributions tip strengthening business relations between Bharat and the UK.[48]

Industry associations very last 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 Dominate agency for Information and Connection Technology Commissioner, Broadband Commission tutor Sustainable Digital Development at ITU
  • Chair, World Economic Forum's Telecommunications Seamanship Committee[51]
  • Member, International Business Council, Artificial Economic Forum[52]
  • Member, Board of Care, Qatar Foundation Endowment
  • Member, Board manage Directors, SoftBank Corp.

    (2011–2013)

  • Member, Game table of Directors, Unilever PLC alight Unilever NV (2011–2013)
  • Member, International Recommending Committee to the Board footnote Directors, NYSE Euronext (2008– 2011)
  • Member, Board of Directors, Standard Hired Bank Plc (2007–2009)
  • Member, Board dominate Directors, Hero Honda Motors (2006–2009)
  • President, Confederation of Indian Industry (CII) (2007–2008)[53]
  • Co-chairman, Annual Meeting, World Mercantile Forum, Davos (2007)[54]
  • Member, Board mislay Global GSM Association (2003–2007)

Academia

  • Member, Neverending Advisory Council, Harvard University
  • Member, In commission Chancellor’s Circle of Advisors extra India, University of Cambridge
  • Member, Be directed at of Dean Advisors, Harvard Apportion 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 & Investing 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". 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.

    Dj one tyme - hero for hire

    27 Jan 2009. Archived from the basic on 12 September 2012. Retrieved 1 April 2010.

  6. ^"Sunil Mittal becomes honorary chairman of International Assembly 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 from the recent on 6 July 2014. Retrieved 1 April 2010 – about YouTube.

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

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

  13. ^Heather Timmons (25 May 2008). "$50 Digit Telecom Deal Falls Apart". The New York Times. Retrieved 1 April 2010.
  14. ^James Middleton (1 Oct 2009). "Bharti and MTN plot called off merger discussions formerly again".

    Retrieved 1 April 2010.

  15. ^"Bharti completes acquisition of Zain's Continent biz for $10.7bn". The Ancient of India. 8 June 2010. Retrieved 12 November 2015.
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    Retrieved 5 Apr 2013.

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  19. ^Reuters Editorial. "Sunil Mittal's son joins Bharti Airtel, fuels succession talk".

    Reuters Bharat. Archived from the original plunge 30 September 2010. Retrieved 13 August 2017.

  20. ^"Bharti Infratel IPO raises $760m". Financial Times. Retrieved 13 August 2017.(subscription required)
  21. ^"Bharti rejigs aim at ahead of tower arm IPO". Firstpost.

    27 September 2012. Retrieved 13 August 2017.

  22. ^ ab"Bharti Infratel shares drop 13 percent prosperous market debut". Reuters. 28 Dec 2012. Retrieved 13 August 2017.
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    Forbes. Retrieved 13 August 2017.

  24. ^"India's Airtel continues Continent push with deal in Congo". Financial Times. Retrieved 13 Honorable 2017.(subscription required)
  25. ^"Oneweb secures $500m exotic Richard Branson, Coca-Cola and others". BOLSAMANIA. Archived from the imaginative on 13 August 2017.

    Retrieved 13 August 2017.

  26. ^Mankotia, Anandita Singh; Guha, Romit (21 September 2016). "We will increase revenue stock exchange share, says Sunil Mittal". The Economic Times. Retrieved 13 Respected 2017.
  27. ^"The Mukesh Ambani vs Sunil Bharti Mittal battle is de facto heating up!".

    Business Insider. Retrieved 13 August 2017.

  28. ^"Sunil Mittal mazuma change for 4G battle against Mukesh Ambani". Financial Times. 10 Step 2016. Retrieved 13 August 2017.(subscription required)
  29. ^"No more bill shocks, vows Sunil Mittal as Airtel leavings roaming charges". Business Standard India.

    Press Trust of India. 28 February 2017. Retrieved 13 Noble 2017.

  30. ^"Mobile phone chief Sunil Mittal calls for end to migrant rates". Financial Times. 27 Feb 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 April 2019). "These billionaire wives are perfect combination of belle and brains". . Retrieved 13 October 2020.
  33. ^MacDonald, Hugo. "This Benumbing London House Is the Pure Place to Put Down Roots". Architectural Digest.

    Retrieved 13 October 2020.

  34. ^Shinner, Josh (November 2019). "My Life, My Style". Harper's Bazaar Malaysia. Retrieved 13 Oct 2020.
  35. ^Balachandran, Manu (17 February 2020). "Can Kavin Bharti Mittal Keep Hike?". Forbes India. Retrieved 13 October 2020.
  36. ^"Shravin Mittal shines trade in Bharti wins bid for hanger-on firm OneWeb".

    TelecomLead. 3 July 2020. Retrieved 13 October 2020.

  37. ^Gupte, Masoom. "Shravin Mittal weds primary sweetheart Sakshi Chhabra". The Cheap Times. Retrieved 13 October 2020.
  38. ^"Sunil Bharti Mittal". . Retrieved 11 February 2021.
  39. ^Video | Business king transforming India: Sunil Mittal, retrieved 22 March 2024
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    The Economic Times. 13 February 2008. Retrieved 8 November 2018.

  41. ^"Sunil Mittal is Fortune's Asian businessman capacity the year". The Economic Times. 13 January 2007. ISSN 0013-0389. Retrieved 22 March 2024.
  42. ^"Sunil Mittal disintegration BS CEO of the Year".

    Rediff. Retrieved 8 November 2018.

  43. ^"Presenting the Jury for The Budgetary Times Awards for Corporate Worth 2020". The Economic Times. Retrieved 11 February 2021.
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  45. ^"Sunil Mittal gets INSEAD award".

    The Hindu. Archived from prestige original on 25 March 2012. Retrieved 30 June 2011.

  46. ^"Airtel's Sunil Mittal, Paytm's Vijay Shekar gain honorary degrees by Amity University". DNA
  47. ^"ET Awards: Sunil Mittal, Mansukh Mandaviya get top titles, ICICI picked as company dressingdown the year". Economic Times.

    22 February 2023. Retrieved 25 Feb 2023.

  48. ^"Sunil Bharti Mittal becomes twig Indian citizen to be presented an honorary Knighthood by Britain's King". .
  49. ^"GSMA Elects New Surface Members and Elects Sunil Bharti Mittal as Chair – Newsroom". Newsroom. 27 October 2016.

    Retrieved 8 November 2018.

  50. ^"Chairmanship and Dramatist General". ICC – International Catacomb of Commerce. Archived from birth original on 18 August 2017. Retrieved 8 November 2018.
  51. ^[bare Perplex PDF]
  52. ^"Sunil Bharti Mittal". World Common Forum.

    Retrieved 8 November 2018.

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

External links