Sunil Bharti Mittal
(4 out of 5 based on 31 Ratings)
Sunil Bharti Mittal Biography
Sunil Bharti Mittal
Born- 23rd October, 1957 in Ludhiana Punjab India
•Occupation- Chairman and Group CEO of Bharati Enterprises
•Net worth- 8.3 billion USD
•Alma mater- Punjab University
•Salary- Rs 21.5 crore
Parents- Satpal Singh and Lalita
Being a first generation businessman is not an easy job as everything starts from scratch. Here the true substance of an individual comes to the fore. Being a beginner in business can be the most riveting and testing time. Sunil Mittal a first generation entrepreneur has seen it all and stands tall, as the most touring business personality of our time. Mr Mittal evokes admiration and at the same time is an inspiration for beginners who want to make it big in the world of business. The harsh realities and unprecedented turn of events did not deter him but ebbed him on to be become the best at what he does.
Sunil Mittal Early Life- Sunil Bharti Mittal was born in Ludhiana in Punjab. His father Sat Pal Mittal was a member of parliament from Ludhiana. He attended the Wynberg Allen School in Mussoorie and later attended the Scindia School at Gwalior. He studied in Arya College and graduated with a bachelor ’s degree in Science and Arts.
Sunil Mittal Business Career- He started his business in 1976 with an initial investment of Rs 20,000 that he borrowed from his father. His first business was to make crankshafts for local bicycle manufacturers. Four years later he along with his brothers Rakesh and Rajan he started an Import Enterprise called the Bharti Overseas Trading Company. He sold all his possessions and moved to Mumbai soon after. Just a year later in 1981 he purchased importing licenses from exporting companies in Punjab. He imported almost thousands of Suzuki Motors electric power generators from Japan. Just at the time the Indian Government banned the import of generators. Again in 1984 he started assembling push button phones in India, which he had earlier used to import from Kingtel. The push button phones replaced the old fashioned rotary phones. That was the becoming of Bharti Telecom Limited (BTL). The company first entered into technical tie up with Siemens AG of Singapore for the manufacture of electronic push button phones. By the beginning of the 1990’s The Bharti Mittal Enterprise was manufacturing fax machines, cordless phones and telecom gadgets. In 1992 he successfully bid for one of the four mobile phone network connections auctioned in India. The only requisite for the bidding company was experience as a telecom operator. So he was able to secure a deal with French telecom Group Vivendi.
He is also the first businessmen in India to identify the potentiality of telecom. His plan was finally approved by the Government of India in 1994. In the following year he started his own telecom business under the brand name of Airtel. Within just a few years of its inception the company was able to achieve the target of 2 million mobile subscribers in the country. The company made a considerable mark by bringing down STD and ISD cellular rates under the brand name of Indiaone. In 2006 he struck a deal with Wal-Mart the US retail giant to start a number of retail stores across India. In the July of the same year he attracted many key executives and from Reliance ADAG, INS Sparta and created Bharati Comtel. In 2008 there were reports that the company was planning to buy MTN Group, a South African based telecommunications company . However the talks ended without any agreement and sources stated that the major reason for this was the opposition of the South African Government.
Sunil Mittal Personal life- Sunil Mittal is married to Nyna and has three children and resides in Delhi.
Sunil Mittal Salary- In 2011 there were reports that the Telecom company proposed to give its chief an annual remuneration of close to 70 crore rupee. Chairman and Managing Director Sunil Mittal saw his full-year pay package dip to nearly Rs 21.3 crore in 2011-12, even as he is entitled to an annual remuneration of up to Rs 70 crore. His salary allowances have remained unchanged, his performance linked incentives have declined but his perquisites have risen.
Sunil Mittal Car Collection- Sunil Mittal loves his black Mercedes S 500. He also has huge collection of other cars as well.
Sunil Mittal Quotes –
•On attracting investors through projections-“Investors, including foreign investors, should like the fiscal deficit numbers and the growth projections.”
•On India-“ If India has to get the complete benefit of its large population and big market, if you will not carry the weaker sections of society, if you will not incorporate the eastern part of India into the mainstream, I think India will never achieve its glory.”
• On Tough times-"In 1983, the government imposed a ban on the import of gensets. I was out of business overnight. Everything I was doing came to a screeching halt. I was in trouble. The question then was: what should I do next? Then, opportunity came calling. 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 or redials. I sensed my chance and embraced the telecom business. I started marketing telephones, answering/fax machines under the brand name Beetel and the company picked up really fast."
Sunil Mittal Awards-
Transforming India Leader, NDTV Business Leader Awards 2008.
GSMA Chairman's Award 2008.
Padma Bhushan in 2007, from the President of India.
Asia Businessman of the Year, Fortune Magazine 2006.
Telecom Person of the Year, Voice & Data, 2006.
CEO of the year 2005, at the Frost and Sullivan Asia Pacific ICT awards 2006.
Best Asian Telecom CEO, Telecom Asia Awards 2005.
Best CEO, India, Institutional Investor, 2005.
Business Leader Of The Year, Economic Times, 2005.
Philanthropist of the Year Award 2010 at The Asian Awards
INSEAD Business Leader Award 2011