Is India's Pride in Mittal Misplaced?

The steelmaker is being hailed as a hometown hero for his takeover of Arcelor, even though he is a newcomer to commerce in his birth country

Lakshmi Niwas Mittal made his fortune outside of his native India, but that hasn't stopped his compatriots from hailing the chairman and chief executive of Rotterdam-based Mittal Steel (MT) as something of a national hero. After winning a five-month battle for control of Luxembourg-based steelmaker Arcelor to create the world's largest steel conglomerate, Mittal has become the talk of India.

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