2007-03-19 09:13:40 · 3 answers · asked by Anonymous in Local Businesses ➔ United Kingdom ➔ London
It is revealed that Laxmi Mittal, who is one of the richest British businessman of Indian origin, is considering reducing his financial stake in the Mittal Group as profits decline.
Mittal told Financial Times that he would be willing to dilute his 86 per cent stake in the Mittal Steel Group, rated as the world's largest steel company with a production of 51 million tonnes, which may rise to 80 to 100 million tonne-mark in the next few years. Mittal is a Kolkata-born businessman and comes from a prominent family of steel manufacturers.
From Kolkata, Laxmi Mittal moved to Indonesia and since then has expanded his steel production base in various countries. The latest announcement comes as Mittal revealed 15 per cent drop in profits. The company may sell $2 billion worth of shares in the market to finance further acquisitions and expansion.
These incredible Indians don't live in India. They are expatriate Indians or desi expats as they are popularly known. They have taken the Indian flavour beyond the frontiers of the country.
Chicken tikka masala is now a British national dish and youngsters in Tokyo are going crazy over Krrish. Deepak Chopra is cleaning America's soul while M Knight Shyamlan is casting Bruce Willis in a new role. Laxmi Mittal is our man in the West and all one can sayis - NRIs are 200 per cent Indians, and that makes us feel we are the best.
Almost 40 per cent of all Indians abroad have a masters, doctorate or other professional degree, which is five times the national average.
But in reality, how much credit can India take for the success of, let's say Laxmi Mittal, who is yet to make a sizeable investment in India?
Be it Salman Rushdie, Indira Nooyi or Amartya Sen, success came their way with recognition in the West. Or did it?
These people did toil for their success, but not really on Indian soil. But hey, it's still our pride, to get those names on the Booker prize.
2007-03-19 16:26:15 · answer #1 · answered by Kevin 5 · 0⤊ 0⤋
Laxman Mittal is the richest man outside the United States. He owns a U.K steel company and is currently ranked third in the world among other billioniares
2007-03-19 10:06:09 · answer #2 · answered by runwitsizzors 3 · 0⤊ 0⤋
Head of Mittal Industries in the UK, hes one of or the richest indian in the world
2007-03-19 09:31:30 · answer #3 · answered by Anonymous · 0⤊ 0⤋