STORY OF A LEADER

A self-made man with an eye for a market and an innate business sense, Mittal has created on of the India's most successful company from scratch. From small beginnings, he has brought modern telecommunications system to millions of communication-hungry Indians at prices they can afford, and built a business with a market capitalization that has topped $23 billion, a turnover of $5billion, and more than 50 million customers. Now Mittal is looking to revolutionize the retail sector and the way India goes shopping.

BIOGRAPHY: Born in India's northern state of Punjab in 1957. Sunil was educated at Punjab University in Chandigarh, India WHEELER DEALING: After graduating, Mittal borrowed $1,500 from his father and set up a bicycle parts business in Ludhiana in his native Punjab. Aware of its limited potential, he moved to Delhi in the 1980s and spotting a potential market, started selling imported generators, with profit margins of up to 100 per cent. As the Indian government began to lift trading restrictions in 1991, Mittal moved into the nascent telecommunications market, supplying handsets. In the 1990s, he moved quickly to capitalize on the new mobile phone market in India, in conjunction with the French telecom group Vivendi.

CALCULATED EXPANSION:

In 1983, Mittal became the first person to introduce the push-button handset phone in India. Even affluent Indians had to wait years to have a phone connection installed by state-run providers and Mittal spotted a huge potential market for the private supplier. In the mid1990s, Bharti Airtel, the company he set up, had fewer than 120,000 subscribers, but the next few years saw a period of enormous growth. His strategy was to offer consumers the best technology with the lowest prices. "Organized retail will change the face of this contry." - Sunil Mittal Mittal gained a reputaion as a man who could attract funding and alliances; both SingTel and Vodafone have been his partners. Mittal believes the next big chance to hit India will be in the retail sector, as shopping habits move away from markets and corner shops into modern air-conditioned supermarkets. The potential worth of the retail sector in India is

estimated to be around $200 billion a a year. To this end, in 2006 Mittal signed a deal with Wal-Mart to open a chain of stores under the name of BestPrice Modern Wholesale LEADERSHIP STYLE: Passionate and ambitious, Mittal is a great delegator, believing the fastest route to a successful company is allowing staff to show initiative and take decisions. BUSINESS LESSONS: GROWING THROUGH PARTNERSHIPS Mittal build his empire through partnerships with a range of overseas companies. While rivals diversified into steel, hotels and aviation, Bharti Airtel linked up with Vivendi to capture the mobile telecoms market. When growth slowed, he applied the same partnership approach to a new area with great potential - the retail sector.

From partnerships with other suppliers; encourage growth through mutually profitable joint ventures. When a partnership has worked well in one market, exploit your people's skills in another. Include your managers in partnerships and rely on them to deliver in their own particular way.

KEY STRENGTH: Understanding the needs of the enormous but complex Indian telecommunications market and tailoring products accordingly. BEST DECISION: Attracting millions of new customers by introducing a range of pre-paid mobile phone cards available through India's millions of independent, non-chain, local "mom and pop" stores.