Sunil Mittal – the poster boy of Indian entrepreneurship

Visiting my relatives in India when I was young, I was always struck, even then, by the stories that were told about India’s bureaucracy. For example, we were told that to get a fixed line phone, people had to wait over 5 years after lodging their application. Given this was the state of India and in particular of her telecoms sector not so long ago, one of the statistics that astounds people today, unsurprisingly, is the take up rate of mobile phones in India – which averaged upwards of a couple of million handsets being sold every month!

Coming from quite a mature western European market, I’m totally flabbergasted with the competitiveness of India’s cellphone market. In addition her innovative ways of winning and keeping customers, such as with low cost price plans, energetic (but melodious) ring tones, value added information services etc. all are refreshing and provide great case study material in MBA schools all over the world.

But, often people outside of India (and outside of business schools) fail in recognising Indian brands and their successes fully, which was a prime motive in my writing my recently released book: India Inc: How India’s Top Ten Entrepreneurs Are Winning Globally.

My biggest regret is not that I didn’t write about Ratan Tata, Mukesh or Anil Ambani, but in fact that I didn’t include Sunil Mittal, the man behind the telecoms boom in India. He’s often credited as India’s poster boy for entrepreneurship as he’s created a phenomenal juggernaut of a company in Bharti Airtel. My reasons for excluding him, despite having met him over the past decade at many occasions, is that until recently he was totally focused on the opportunity India’s domestic market provides for Airtel – not that you can hold that against him – and my book looked at the international success of India’s corporate titans.

But, finally, all has changed. As of this week, Bharti Telecom owns Africa’s Zain Telecom and therefore makes his success an international one in the truest sense. His acquisition is second only to Tata’s purchase of Corus and provides Mittal with a growing footprint in an additional 15 countries and 150 odd million subscribers. It would be misleading to suggest that Mittal wasn’t interested in internationalising Airtel, as we all know of his failed negotiations with South Africa’s MTN over the past couple of years. But, I’m glad its finally happened.

What excites me, and many more, is his focus on Africa as it is here that I believe he’ll really be able to leverage his Indian experience to much gain. We hear of China’s love affair with Africa, but seldom do you hear of India making a beeline to some of the world’s most stunning countries and for this reason look forward to charting Sunil Mittal’s international success as much as India watchers have kept a keen eye on his domestic conquest.

Please don’t be mistaken, his rise hasn’t been free of challenge, controversy, or criticism and I don’t intend on sugar-coating his rise, but I fundamentally believe, above all, he demonstrates some phenomenal entrepreneurial traits that could teach the Bransons of our world a thing or two.

Launch week – update

I promised to send regular updates on the progress of the book, so here goes:

I was asked to write a guest column for Business World, in which I offer some nuggets from the interviews I conducted with the entrepreneurs – such as how they are fundamentally different to their Western peers. You can read the article here: http://www.businessworld.in/bw/2010_01_15_Enterprising_India_Inc.html

I’ve also been asked to write a comment piece in the Economic Times of India on what India Inc can teach the world. Let me know if you have any views or ideas to incorporate. On the issue of PR, Real Business Magazine is going to feature two extracts from my book, as are a number of various trade magazines.

With regards to events, we had a small family ceremony this weekend at the legendary Hare Krishna temple in Watford, which used to be George Harrison’s home, where my family invited some close friends to share the moment. Later this week, we have the main UK launch event in which we expect around 150 of our clients, associates, and friends to attend – should be great fun.

On India Inc, the story that caught my attention is the proposed bid by Anil Ambani to acquire the beleagured Hollywood studio, Metro-Goldwyn-Mayer (MGM), whose back catalogue includes the James Bond series, Ben Hur, The Wizard of Oz and Gone With The Wind – all major blockbusters. Last year, Ambani inked a deal with Steven Spielberg to produce some films together which raised some eyebrows – it’s also one of the major conversations I had with Kishore Lulla, Chairman of Eros, who’s featured in my book.

Feel free to send me your thoughts on what I should write in the Economic Times piece.

If you haven’t already so, you can join the Facebook fan page by clicking here: www.facebook.com/indiaincthebook

Anil Ambani Fixing Creaking Infrastructure / BBC World Business Report

Was interviewed on BBC TV’s World Business Report yesterday on the issue of Reliance ADA committing $7bn to strengthen their company’s ability to win more infrastructure projects in India.

Asked whether this ambition of Ambani Jnr is a nationalistic move – I had to point out that Indian’s make astute business decisions. First and foremost, take a look at the market. From the moment you land in India, you can’t help but observe the huge challenges India’s creaking infrastructure poses to her global emergence. Some commentators peg the opportunity as being a trillion dollar market.

Having local market knowledge and experience, it goes without that saying that Mr Ambani is well placed to compete in this market. Indian’s may be emotional and patriotic, but you shouldn’t mistake this decision to be anything but a business decision. Investing $7bn to capture a larger slice of a trillion dollar cake seems a good decision.

The Indian Government will be keen to attract global firms to participate in these mega infrastructure projects. Whilst these global firms possess expertise and specialism, they struggle immensly in India for the simple reason that they don’t have local knowledge. They don’t know how to navigate through the cultural maze. This is why we’ve set up Chase India and The India Briefing Centre to help global companies crack India.