Lakshmi Nivas Mittal

“Always think outside the box and increase the opportunities that appear, wherever they might be”

Biography - Lakshmi Nivas MittalBiography - Lakshmi Nivas MittalIndian born British steel tycoonIndian born British steel tycoon

Born on June 15Born on June 15thth 1950 in Rajasthan 1950 in Rajasthan

Family moved to Kolkata from RajasthanFamily moved to Kolkata from Rajasthan

His father Mohanlal Mittal set up a small steel His father Mohanlal Mittal set up a small steel

mill in Kolkata.mill in Kolkata.

Lakshmi Nivas Mittal graduated from St. Xaviers in Lakshmi Nivas Mittal graduated from St. Xaviers in

Kolkata with a commerce degree in 1970.Kolkata with a commerce degree in 1970.

• His wife Usha runs the Indonesian business His wife Usha runs the Indonesian business and his son Aditya and daughter Vanisha are and his son Aditya and daughter Vanisha are members of the board of directors of Mittal members of the board of directors of Mittal steel.steel.

MITTAL STEEL

History of Mittal Steel

Mittal Group got into steel industry in 1976 when M L Mittal Group got into steel industry in 1976 when M L Mittal left country because of India’s restrictive Mittal left country because of India’s restrictive economic policies. He went to Indonesia to set up economic policies. He went to Indonesia to set up ISPAT INDO. ISPAT INDO.

Group started spreading its activities across the globe Group started spreading its activities across the globe in 1989 when it acquired plant in Trinidad and Tobago in 1989 when it acquired plant in Trinidad and Tobago which was revivedwhich was revived

1994 group underwent partition of business 1994 group underwent partition of business

with his younger brothers P K Mittal and V K with his younger brothers P K Mittal and V K

Mittal Mittal

Current Status

World’s largest and most global steel company with World’s largest and most global steel company with

shipment of 49.2 million tones and revenue of over shipment of 49.2 million tones and revenue of over

$28.1 billion in 2005 and net income of $3.4 billion$28.1 billion in 2005 and net income of $3.4 billion

No. 1 high quality steel producer with crude steel No. 1 high quality steel producer with crude steel

capacity with more than 70 million tons per annumcapacity with more than 70 million tons per annum

Employs 224000 people spanning 49 different Employs 224000 people spanning 49 different

nationalitiesnationalities

AwardsMittal was awarded Fortune magazines Mittal was awarded Fortune magazines

“European Businessman of the Year “European Businessman of the Year 2004”2004”

Previously, he was awarded Previously, he was awarded “Steelmaker “Steelmaker of the Year”of the Year” in 1996 by New Steel in the in 1996 by New Steel in the USA USA

The The “Willy Korf Steel Vision Award”“Willy Korf Steel Vision Award” in in June 1998 June 1998

In March 2005, Forbes named him the In March 2005, Forbes named him the third richest man in the world and the third richest man in the world and the richest non-American, with a wealth of richest non-American, with a wealth of $25 billion. $25 billion.

L N Mittal is a member of L N Mittal is a member of • The Foreign Investment Council in The Foreign Investment Council in

Kazakhstan, Kazakhstan, • The International Investment Council in The International Investment Council in

South Africa,South Africa,• The World Economic Forum’s The World Economic Forum’s

International Business Council International Business Council • The International Iron and Steel The International Iron and Steel

Institute’s Executive Committee.Institute’s Executive Committee.

L N Mittal is on the advisory board of the L N Mittal is on the advisory board of the Kellogg School Of Management in the US Kellogg School Of Management in the US

Social work done by LN Mitall in various sector Social work done by LN Mitall in various sector Education Education

• Mittal Steel South Africa has donated over Mittal Steel South Africa has donated over $177millon to community development projects$177millon to community development projects

• Company’s latest project to sponsor South Africa Company’s latest project to sponsor South Africa national science Olympiadsnational science Olympiads

• Mittal Steel sponsorship is valued at $1.5millonMittal Steel sponsorship is valued at $1.5millon

Health and SafetyHealth and Safety

• Robust set of safety standards to reduce Robust set of safety standards to reduce

accidents.accidents.

• Mittal Steel operates an E-Room.Mittal Steel operates an E-Room.

• Safe business is a good business.Safe business is a good business.

Sponsorship &support to football , basketball & Sponsorship &support to football , basketball & other sports.other sports.

Sporting beneficiaries are Czech Republic, Sporting beneficiaries are Czech Republic, Romania & Algeria.Romania & Algeria.

• Sporting link with west IndiesSporting link with west Indies

SportsSports

“ This is not about creating a giant ….its about creating the sustainability of the steel industry..”

-Lakshmi Niwas Mittal

Presented byDeepak chauhanAGBS(London)

Thank

you