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Sunil Bharti Mittal believes that life gives everyone at least one big break, and he got his big break when he was awarded the telecom licence for the National Capital Region and launched services in 1995. The ‘big boys’ in India Inc. laughed at him then. But With Airtel a clear market leader today, they are not laughing anymore. teaming up with his brothers - Rakesh and Rajan Bharti Mittal now - sunil is bent on extracting another big break from destiny. financial services, retail or agri-biz: Where will the next big leap for the mittal brothers come from? savreen gadhoke, suRbhi chawla and gyanendra kashyap dive into the mittal empire for some answers...
“I am a new age entrepreneur. I believe I represent the changing face of India,” said Sunil Bharti Mittal (SBM to his friends and colleagues), while addressing faculty and students at the convocation function of a management school in Bangalore. His self-assessment could not have been more accurate! The manner in which he has been able to usurp a ‘pole-position’ in India Inc. (from right under the noses of the Tatas, Birlas and Ambanis of the world) stands testimony to his revolutionary streak. For those who came in late, the Ludhiana boy started with a bicycle parts business and today straddles a multi-billion dollar telecom empire.
It all began when he applied for and won a telecom licence and launched mobile services in Delhi and NCR in 1995. That was the beginning of SBM’s battle with the ‘big boys’ to stake his claim to a coveted ‘pole position’ in Indian business – a battle, which he has won, fair and square. With a market cap of Rs.1.52 trillion (as on June 2, 2009), Bharti Telecom now stands tall among India Inc.’s top rankers, amidst the Ambani and Tata empires – the very names that once perhaps sparked his envy! If the MTN deal comes through (see box on pg.71) , Bharti’s stature will grow bigger and better.
The telecom dream is on track. But not resting on past laurels, Mittal already seems to be looking for the next big leap. In fact, he had started fantasising about new frontiers years ago. And last year when he gave up the role of Bharti Airtel’s CEO to Manoj Kohli, the desire in part was to focus more on emerging businesses. Along with brothers Rakesh and Rajan Bharti Mittal, the winsome threesome have laid out the roadmap for Bharti Enterprises. Financial services (where Bharti teams up with AXA); retail (with Walmart as their winning gambit) and processed foods (a JV with Singapore based Del Monte) are the new playing fields. Question is, which of them will deliver the goods? Do these forays have it in them to come up to the stature of brand Airtel? More important, do the Mittal brothers have it in them to repeat their telecom achievements?
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Source : IIPM Editorial, 2009
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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