LAKSHMI N MITTAL (62nd on the Forbes list)
When Lakshmi N Mittal joined the steel business, he was just following in the footsteps of his father, Mohan, who had set up Ispat Steel in the 1950s.
But Lakshmi had the vision that was needed to turn a local firm into a global player. In 1976, when the Indian government started heavily restricting domestic steel production, he opened a state-of-the-art mill in Indonesia.
From there his search for non-scrap iron to feed his plant took him to Trinidad and Tobago, where he in 1989 took on Iscott, a government-founded steel firm which was losing more than $100,000 a day. Within a year, of his taking it over, Iscott was making a profit.
From then on, Mittal embarked on a decade of international expansions buying plants in Mexico, Canada, Germany, Ireland and Kazakhstan. In 1995, he transferred the firm's headquarters from Indonesia to London and settled there.
Nine years later, he was put at the number four spot in The Sunday Times' rich list for with his fortune estimated at £2.2 billion. Mittal has not been entirely free of controversies. His decision to buy the Romanian State-owned steel plant, Sidex, ran into trouble when the involvement of British Prime Minister Tony Blair was revealed.
But the buyout helped propel LNM, as his group is known, to the fourth spot in the world steel makers' league. 53-year old Mittal ranks 62 in the Forbes' list with a net worth of $6.2 billion.
2007-03-11 18:46:05
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answer #1
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answered by SeG 3
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Are you speaking approximately Padilla? The FEMA (forex administration Act) of 1999 governs the acquisition and circulate of belongings. It states that persons no longer resident of India and not of Indian commencing place can not very own belongings in India. in case you choose to misrepresent the placement, you ought to no longer advise that readers google the undertaking, using fact they're going to quickly be certain the reality of the problem. that's completely obtainable to help undesirable babies without making a activities stadium.
2016-11-24 21:48:56
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answer #2
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answered by walpole 4
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I didn't know in what sense U r asking.So,I answer my favourite personality in the field of business.I always vote for
UDAY KOTAK, of Kotak Mahindra Bank.
To me,he is a man of genius.He is a true Indian by heartly.He loves his work and compete with others mind extra-ordinarily.I like his silent nature.In the midst of others,he shown him in a different way and he was the outstanding business men to me.
He was a silent leader.
2007-03-13 03:37:25
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answer #3
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answered by Janu 2
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There are so many industrialists in India and few of them are :
Mukesh Ambani, Anil Ambani, Azim Premji, Narainmurti.........
2007-03-11 22:46:14
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answer #4
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answered by Nagendra Jeet 1
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