Lakshmi Mittal flies in then flies out

Vol 16, PW 18 (04 Apr 13) News in Brief

Britain's richest man Lakshmi Mittal doesn't like delays.

That's why he threatened to quit the $4bn Bhatinda refinery project halfway, back in 2009, in protest against government procrastination. Fast forward to 2013 and Mittal still has little patience for slow moving India.

He flew into Ahmedabad from London in his private jet on March 23 to address the 48th convocation of the Indian Institute of Management (IIM). But he didn't bother to check into a hotel, instead flying right back to London just hours after the programme.

Speaking to reporters on the sidelines of the convocation, Mittal said India was not his top priority for investment, even though he has strong ties to the country. In his address to over 500 IIM students he recalled overcoming heavy odds in Kazakhstan and Indonesia.

"On the first night I spent in Kazakhstan I slept in my overcoat,” he said. Mittal advised students to remain focused, determined and to aim for success.