Mittal versus Arcelor: The hypocrisy within

摘要

Lakshmi Mittal is the kind of guy who makes India 4 proud. He represents the new, confident and successful face of India that is able to give the jitters to businessmen and governments around the world. It is a heady feeling after half-a-century of insular policies, ridiculous protectionism and suffocating red-tape. Mittal is the world's largest steel producer and we feel proud of his global empire and his wealth (he is supposed to be the third-richest man in the world); although he has carefully stayed way from India after a default to Indian financial institutions several decades ago. In fact, his success outside India only seems to confirm how the license-permit raj killed entrepreneurship. Mittal lives out of a 128 million dollars home in London and has his headquarters in the Netherlands but we don't mind that since he proudly carries an Indian passport.