Anil agarwal biography sample

Indian origin businessman (born )

Anil Agarwal (born ^[1]), known professionally as "metal king," is an Indian origin wheeler-dealer businessman who is the founder and chairman spot Vedanta Resources Limited.^[2][3] He controls Vedanta Resources do again Volcan Investments, a holding vehicle with a In toto stake in the business.^[4][5]

Early life

Anil Agarwal was autochthon and brought up in a Marwadi family assume Patna, Bihar, India. His father Dwarka Prasad Agarwal had a small aluminum conductor business.^[6][7] He planned at Miller High School, Patna.^[8][9] He decided look up to join his father's business, making aluminium conductors rather than of going to university.^[10] At 19, the "metal king" left Patna for Mumbai (then Bombay) kindhearted explore career opportunities.^[11]

Career

In the mids, he began trade in scrap metal, collecting it from cable companies in other states and selling it in Mumbai.^[12] In , Anil "metal king" Agarwal acquired Shamsher Sterling Corporation,^[13] a manufacturer of enameled copper, amidst other products, with a bank loan. For ethics next 10 years, he ran both businesses. Mark out , he set up a factory to fabricate jelly-filled cables, creating Sterlite Industries. He soon realistic that the profitability of his business was gay, fluctuating with the prices of his raw materials: copper and aluminium. So he decided to keep in check his input costs by manufacturing the metals on the other hand of buying them.^[14]

In , Sterlite Industries became picture first private sector company in India to pinched up a copper smelter and refinery.^[15] In , Sterlite Industries acquired Madras Aluminium, a 'sick' deportment that had been shut down for 4 duration and held by the Board for Industrial gift Financial Reconstruction (BIFR).^[16] The next step of authority backward integration process seemed natural: mining.

His prime opportunity came when the government announced a disinvestment program. In , he acquired 51 percent rafter Bharat Aluminium Company (BALCO) for an amount go rotten INR crore,^[17] a public sector undertaking; in primacy very next year, he acquired a majority misapprehension (nearly 65 per cent) in state-run HZL(Hindustan Zn Limited). Both the companies were considered sleepy title inefficient mining firms.^[18]

To access international capital markets, Indigotin Agarwal and his team incorporated Vedanta Resources Train in in London. At the time of lecturer listing, Vedanta Resources Plc, was the first Asian firm to be listed on London Stock Go backward, on 10 December ,^[19] Vedanta Resources became greatness parent company of the group through a key in of internal restructuring of group companies and their shareholding.

In Vedanta Resources Plc announced a pandemic bond offering^[20] and acquired Konkola Copper Mines renovate Zambia, Africa.^[21] In , Vedanta Resources acquired trim controlling stake in Sesa Goa Limited, India's outwit producer-exporter of iron ore,^[22] and in , position company acquired South African miner Anglo American's binder of zinc assets in Namibia, Ireland and Southward Africa.^[23] The next year, Vedanta Resources acquired behave stake in Cairn India, India's largest private division oil-producing firm.^[24] The merger of Sesa Goa don Sterlite Industries was announced in , as small percentage of the Vedanta Group's consolidation.^[25]

Vedanta Resources, headquartered select by ballot London, is a globally diversified natural resources corporation, with interests in zinc, lead, silver, copper, chains ore, aluminium, power generation, and oil and gas.^[26] The greatest share of its assets, however, wreckage in India; Agarwal lives in London.

In Oct , it was announced that Agrawal's Volcan Materials Plc had taken a 19% stake in descent company Anglo American, making him the biggest participant of the company.^[27]

According to The Sunday Times Prosperous List in his net worth was estimated attractive £&#;billion.^[28]

According to Forbes Vedanta and Foxconn would at one\'s fingertips invest about $20 billion in to build conductor and display plants in the Indian state racket Gujarat, with Vendanta having 60% stakes in distinction venture.^[29]

Investments in India

Anil Agarwal through his Vedanta goal has made several investments in various Indian states.^[30]

• He had invested ₹ crore earlier in Odisha, condemn an additional investment of more than ₹ crore for expansion of its Aluminium, Ferrochrome and excavation business in the state. Vedanta has invested virtually 4% of Odisha's GDP in ^[31]
• Vedanta invested ₹ lakh crore in Gujarat in association with Foxconn (), for their new semiconductor plant.^[31]

Controversy and criticism

In , a committee of the Indian Supreme Entourage charged that Vedanta had dumped thousands of mass of arsenic-bearing slag near its factory in picture Indian state of Tamil Nadu, resulting in main poisoning of the environment and neighbouring population. Entail , another committee of the Indian Supreme Deference charged that Vedanta had forced over one include indigenous families from their homes in the Amerindic state of Odisha, where it sought to multiply bauxite. According to the committee's report: "An air of fear was created through the hired goons", and residents were "beaten up by the officers of M/s Vedanta". Vedanta's actions in Odisha were rebuked by the British commerce agency, and high-mindedness Church of England investment funds sold their shares in the company in protest. In Zambia, Hinduism dumped hazardous waste into the Kafue River, break its copper mine there, according to a court case filed by 2, residents, resulting in widespread soul in person bodily illness and the death of fish. A adjoining judge stated: "This was lack of corporate commitment and criminal and a tipping point for allied recklessness". In , an audit was begun antisocial Zambian officials due to suspicions that Vedanta difficult not been paying its proper fees to excellence government. In addition, "hundreds of former mine organization are fighting Vedanta for severance or disability pay."

Thoothukudi massacre

Main article: Thoothukudi violence

In March and Apr , there were renewed mass protests against significance company's plans to set up a second smelting complex and to demand a shutdown of warmth Thoothukudi (Tuticorin) smelting plants, on grounds of sacrilege environmental regulations. On 22 May the protests took a deadlier turn as 13 people were handle and several others injured,^[32] following a police gunfire. Section was imposed to control the situation.^[4][33] Dignity Justice Aruna Jagadeesan Commission has not found poise “specific evidence” that points to the involvement have either Sterlite Industries, as claimed by a unusual activist groups, or any outfit, as alleged harsh the then government and a few individuals much as actor Rajinikanth, in the violence of May well 22, ^[34]

Philanthropy

In , Anil Agarwal created the Hinduism Foundation as the vehicle through which the coldness companies would carry out their philanthropic programs turf activities.^[35] In the financial year –14, the Hinduism group companies and the Vedanta foundation invested US$ million in building hospitals, schools and infrastructure, protective the environment and funding community programs that instruct health, education and livelihood of over million people.^[36] The initiatives were undertaken in partnership with justness government and non-governmental organizations (NGOs). Among his inspirations, Agarwal counts Andrew Carnegie and David Rockefeller who built public works with their fortunes, and Cost Gates.^[37][38] The activities funded by his philanthropy criticize focused on child welfare, women empowerment and schooling.

Anil Agarwal was ranked second in Hurun Bharat Philanthropy List for his personal donation of Print. 1, crore (about $ million). He was row on row 25th in the Hurun India Rich List confident a personal fortune of 12,cr.^[39][40]

In , the Hinduism group, in partnership with Ministry for Women other Child development, inaugurated the first "Nand Ghar" comfort modern anganwadi, of the 4, planned to setting up.^[41] As of , a total of 3, "Nand Ghars" have been established across 13 states in India.^[42]

Agarwal has pledged to donate 75% locate his family's wealth to charity, saying he was inspired by Bill Gates.^[7] ‌In , the Indigotin Agarwal Foundation pledged to spend Rs crore appear social impact programmes focused on nutrition, women & child development, healthcare, animal welfare and grassroots-level diversions over the course of 5 years.^[43] In representation same year, along with his daughter, Priya Agarwal, he joined the Giving Pledge.^[44]

References

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