SUCCESS STORY OF SUCCESSFUL ENTREPRENEURS. #1 Lakshmi Niwas Mittal - “THE STEEL ICON OF INDIA”

Lakshmi Niwas Mittal is an Indian steel tycoon with a base of operations in the UK. He is the Executive Chairman of Arcelor Mittal, the biggest steel producer in the world. On June 15, 1950, Mittal was born into a Hindu Marwadi family. His family then relocated to Calcutta (now Kolkata), where his father ran a steel plant. While attending St. Xavier's College to study science, he worked at the mill.

From 1957 to 1964, he attended Shri Daulatram Nopany Vidyalaya in Calcutta. He received a B.Com from St. Xavier's College in Kolkata. Due to the Indian government's restriction on steel output, Mittal, then 26 years old, established his first steel facility in Sidoarjo, East Java, Indonesia. The state-owned steelworks of Trinidad and Tobago were bought by Mittal in 1989. In a year where they were running at a significant loss, he converted them into viable companies. Prior to December 2001, Mittal bought assets and renamed them Ispat Mexicana and Ispat Karmet, his company in Kazakhstan. He changed the name of Sidex Galati, which he had bought in November 2001, to Ispat Sidex in that month. Mittal was successful in his hostile takeover attempt of Arcelor in 2006–2007, and the company was renamed Arcelor Mittal.

In doing so, he gained ownership of many steel assets, including those belonging to France's Usinor, Luxembourg's Arbed, and Spain's Aceralia. In 2008, he received the prestigious Padma Vibhushan and Forbes Lifetime Award.

Blog Article By- Punita Ganesh Nayak , Shravya Shetty, Vimarsha Anchan HD, Jashmita , Bhavya, Shreyas KS, Divin Shetty, Bharath U Naik.

Students of 1st BBA.

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