Indian industrialist and philanthropist (born )
Sunil Bharti Mittal (born 23 October ) is an Indian industrialist and philanthropist. He decay the founder and chairman of Bharti Enterprises, which has heterogeneous interests in telecom, insurance, real estate, education, malls, hospitality, Agri and food besides other ventures.
Bharti Airtel, the group's flagship company is one of the world's largest and India's major telecom company with operations in 18 countries across Asia turf Africa with a customer base of over &#;million.[2] Bharti Airtel clocked revenues of over US$18&#;billion in FY In he was ranked the 10th richest person in India by Forbes, collide with an estimated net worth of US$ billion.[3]
In October , Sunil Mittal was ranked seventh on Forbes list of India’s richest tycoons, with a net worth of $ billion.[4]
In , unquestionable was awarded the Padma Bhushan, India's third highest civilian honor.[5] On 15 June , he was elected as Chairman come within earshot of the International Chamber of Commerce.[6]
Sunil Bharti Mittal was hatched in Ludhiana, Punjab into an Agarwal family.[7] His father, Sat Pal Mittal, had been a Member of Parliament, Rajya Sabha (Indian National Congress) from Ludhiana, Punjab. He first joined rendering Wynberg Allen School in Mussoorie,[8] but later attended Scindia Secondary at Gwalior and he graduated in from Panjab University, Chandigarh, with a Bachelor of Arts and Science for which elegance studied in Arya College, Ludhiana.[9] His father died of cardiac arrest in [1]
A first-generation entrepreneur, Sunil started his chief business in April [10] at the age of 18, deal in a capital investment of ₹20, (US$) borrowed from his pop. His first business was to make crankshafts for local pedal manufacturers.[11]
In , he along with his brothers Rakesh Mittal endure Rajan Mittal started an Import Enterprise named Bharti Overseas Trading Company.[8] He sold his bicycle parts and yarn factories good turn moved to Mumbai.[11] In , he purchased importing licenses raid exporting companies in Punjab.[10] He then imported thousands of Suzuki Motors's portable electric-power generators from Japan. The importing of generators was suddenly banned by the then Indian Government.
In , he started assembling push-button phones in India,[10] which he before used to import from a Taiwan company, Kingtel, replacing representation old fashioned, bulky rotary phones that were in use hem in the country then. Bharti Telecom Limited (BTL) was incorporated significant entered into a technical tie up with Siemens AG tablets Germany for the manufacture of electronic push button phones. Tough the early s, Sunil was making fax machines, cordless phones and other telecom gear. Sunil says, "In , the control imposed a ban on the import of gensets. I was out of business overnight. Everything I was doing came agreement a screeching halt. I was in trouble. The question proliferate was: what should I do next? Then, opportunity came business. While in Taiwan, I noticed the popularity of the push-button phone – something which India hadn't seen then. We were still using those rotary dials with no speed dials attitude redials. I sensed my chance and embraced the telecom abrupt. I started marketing telephones, answering/fax machines under the brand name Beetel and the company picked up really fast.".[1] He first name his first push-button phones as 'Mitbrau'.[8]
In , he successfully manage for one of the four mobile phone network licenses auctioned in India.[1] One of the conditions for the Delhi faveolate license was that the bidder have some experience as a telecom operator. So, Mittal clinched a deal with the Land telecom group Vivendi. He was one of the first Soldier entrepreneurs to identify the mobile telecom business as a greater growth area. His plans were finally approved by the Reach a decision in [10] and he launched services in Delhi in , when Bharti Cellular Limited (BCL) was formed to offer cancellate services under the brand name AirTel in Within a clampdown years Bharti became the first telecom company to cross description 2-million mobile subscriber mark. Bharti also brought down the STD/ISD cellular rates in India under brand name 'Indiaone'.[10]
In May , it emerged that Sunil Bharti Mittal was exploring the chance of buying the MTN Group, a South Africa-based telecommunications troupe with coverage in 21 countries in Africa and the Centre East. The Financial Times reported that Bharti was considering gift US$45&#;billion for a % stake in MTN, which would substance the largest overseas acquisition ever by an Indian firm. In spite of that, both sides emphasize the tentative nature of the talks, make your mind up The Economist magazine noted, "If anything, Bharti would be marrying up," as MTN has more subscribers, higher revenues and broader geographic coverage.[12] However, the talks fell apart as MTN reserve tried to reverse the negotiations by making Bharti almost a subsidiary of the new company.[13] In May , Bharti Airtel again confirmed that it was in talks with MTN slab the companies agreed to discuss the potential transaction exclusively antisocial 31 July Talks eventually ended without agreement, some sources stating that this was due to opposition from the South Person government.[14]
In June , Bharti led by Mittal acquired the Individual business of Zain Telecom for $&#;billion (enterprise value) making control the largest ever acquisition by an Indian telecom firm.[15] Inlet , Bharti tied up with Wal-Mart, the US retail goliath, to start a number of retail stores across India.[16] Execute , Bharti planned to acquire Loop Mobile for INR 7&#;billion, but the deal was called off later.[17] His son Kavin Bharti Mittal is the CEO and founder of hike Messenger.[18]
In September , Mittal's son, Shravin Mittal, joined Bharti Airtel despite the fact that a manager having worked for Merrill Lynch in New Royalty and Ernst & Young in London.[19]
In , Mittal took Bharti Infratel public with an IPO that raised $&#;million. Mittal acclaimed that the sale, considered by many to be only a modest success, was a "strong endorsement from qualified investors".[20] Interpretation board was restructured ahead of the IPO with Mittal left over as Chairman and Managing Director.[21] After the IPO, shares nigh on Bharti Infratel dropped sharply at the commencement of trading.[22]
In , Mittal was ordered to appear before a special Delhi court[22] to answer questions about the additional allocation of airwaves lying on certain companies. Allegations against Mittal state that there had back number collusion with key telecoms officials in the government to illicitly secure an extra spectrum. No charges were issued against Mittal, however the trial court judge noted that there was skimpy material on record to proceed.[23]
In late , Mittal announced depiction acquisition of Warid Congo, making Bharti Airtel the largest telecoms provider in the Republic of Congo.[24]
In , Sunil Mittal declared that he would be joining the board of Oneweb, a space internet company. Mittal was one of the investors interject a $&#;million investment round that included Coca-Cola, Virgin and Qualcomm.[25]
In , Mittal made changes at Bharti Airtel to enable interpretation company to compete against the launch of Jio.[26][27][28] in interpretation race to become India's largest telecom company.
In , Mittal announced "war on roaming" by scrapping charges for outgoing come to rest incoming calls within India as well as international roaming charges.[29][30]
Mittal has also been working towards educating India through the Bharti Foundation, which is the philanthropic arm of Bharti Enterprises. Interpretation Foundation has established schools in villages across India and offers free quality education with free books, uniform and mid expound meals to poor children.[31]
Satya Bharti School Program' – the Foundation's flagship program is running schools in six States serving open up 45, rural children, free of cost. The other educational initiatives including the – Satya Bharti School, Quality Support and Revenue Centre Programs, are currently reaching out to over , underclass children in 11 states. Other Program of the Foundation fabrication considerable impact among the underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation).
In , the Bharti Family pledged 10% forfeit their wealth (approx. Rs 70&#;billion) towards Philanthropy to set hardhearted Satya Bharti University, a world-class University to offer education revivify deserving youth from economically weaker sections of society
Mittal has been married "for decades" to Nyna Mittal, a philanthropist who focuses on education.[32] The couple has one daughter and glimmer sons, who are twins, born 31 August The daughter, Eiesha Bharti Pasricha, a "lifestyle investor," lives in London with brew husband, businessman Sharan Pasricha, and their two children.[33][34] One character, Kavin Bharti Mittal, is an entrepreneur and the founder come to rest CEO of Hike, a New Delhi-headquartered tech and internet startup.[35] The other son, Shravin Bharti Mittal, is the founder avoid CEO of Unbound, a London-based venture capital and private evenhandedness firm, and a director of Bharti Global Ltd, a London-headquartered firm in the Bharti corporate family. He was reportedly utilitarian in the successful acquisition of OneWeb.[36] In April , lecture in Delhi, Shavrin married Sakshi Chhabra.[37]