Bharti Enterprises founder Sunil Bharti Mittal has expressed regret about his age while describing the scale of change he expects in India's economy and business landscape. He said the next 10 to 20 years could bring major opportunities driven by technology, energy, a young population and the country's large domestic market.
Speaking in New Delhi on Thursday at Goldman Sachs' '10,000 Women' programme, Mittal said India's current prospects made it an exceptional place to be born. He said he would soon turn 69 and wished he were 20 years younger so he could take part more directly in the opportunities ahead.
Why Mittal sees strong potential in India
Mittal linked India's future economic strength to several advantages. In his view, progress in technology and energy, combined with a young population and a large consumer market, could help the country move towards becoming the world's third-largest economy.
He also urged entrepreneurs to recognise emerging opportunities and trust their ideas. His own career, he suggested, showed why identifying technological shifts early can create room for new businesses.
Mittal recalled that rotary-dial telephones were widely used in India in the early 1980s. He saw an opportunity in push-button phones and took the initiative to bring the first such phone to the country. That decision marked the beginning of his association with telecommunications.
His business later expanded into answering machines, cordless phones and fax machines before he entered mobile telecommunications. Mittal said he had been warned that mobile telecom required very large amounts of capital and would not be suitable for a small entrepreneur.
Rather than allowing that warning to stop him, he proceeded and only fully understood the scale of the investment required after starting the business. He described the experience with humour, saying that knowing the full capital requirement in advance might have prevented him from entering the sector.
The OneWeb lesson
Mittal also discussed his experience with satellite company Eutelsat OneWeb during the coronavirus pandemic. He said former British Prime Minister Boris Johnson wanted to advance the satellite project, while then-Finance Minister Rishi Sunak had to assess its substantial cost.
According to Mittal, he explained to Sunak why Britain and Europe needed their own satellite network rather than relying only on systems from the United States. The example illustrated, in his account, the work required to persuade governments, investors and other stakeholders to support a major business idea.
For Mittal, technology or funding alone cannot turn an ambitious plan into a business. Entrepreneurs must also communicate the value and future potential of an idea, product, service or strategy well enough to secure support and investment.
He encouraged young entrepreneurs to remain firmly committed to their goals, ambitions and plans. He said India could generate new opportunities in technology, telecommunications, energy and digital services, making the coming two decades important for business and entrepreneurship.
Conclusion
Mittal's message was that India's technological, demographic, energy and market advantages could create significant opportunities over the next 10 to 20 years. His own experience formed the basis of his encouragement to entrepreneurs to recognise change, accept risk and maintain confidence in their ideas.
Frequently Asked Questions
Q. What did Sunil Bharti Mittal say about his age?
He said he would soon turn 69 and wished he were 20 years younger to participate in India's expected opportunities.
Q. Where did Mittal make the comments?
He spoke in New Delhi during Goldman Sachs' '10,000 Women' programme.
Q. Which factors does Mittal believe could strengthen India's economy?
He highlighted technology, energy, India's young population and its large domestic market.
Q. What was Mittal's first technology business opportunity?
In the early 1980s, he identified an opportunity in push-button phones and brought the first such phone to India.
Q. What did Mittal say about the OneWeb project?
He said he explained to Rishi Sunak why Britain and Europe needed their own satellite network instead of relying only on US systems.
