As per report Anil Agarwal (born 1954) is the founder and Chairman of Vedanta Resources Limit. Meanwhile he controls Vedanta Resources through Volcan Investments, a holding vehicle with a 61.7% stake in the business. Furthermore in the mid-1970s, he began trading in scrap metal, collecting it from cable companies in other states and selling it in Mumbai. Earlier in 1976, Anil Agarwal acquired Shamsher Sterling Corporation, a manufacturer of enameled copper, among other products, with a bank loan and for the next 10 years, he ran both businesses.
Reportedly in 1986, he set up a factory to manufacture jelly filled cables, creating Sterlite Industries. Apparently he soon realized that the profitability of his business was volatile, fluctuating with the prices of his raw materials: copper and aluminum and so he decided to control his input costs by manufacturing the metals instead of buying them.
Moreover in 1993, Sterlite Industries became the first private sector company in India to set up a copper smelter and refinery. Further in 1995, Sterlite Industries acquired Madras Aluminium, a ‘sick’ company that had been shut down for 4 years and held by the Board for Industrial and Financial Reconstruction (BIFR). Moreover in 2015, the Vedanta group in partnership with Ministry for Women and Child development inaugurated the first “Nand Ghar” or modern anganwadi, of the 4,000 planned to set up. Accordingly Agarwal has pledged to donate 75% of his family’s wealth to charity, saying he was inspired by Bill Gates.
