India Olympic Hero Gets Boost from Mittal

The country's first individual gold medal winner, Abhinav Bindra, received crucial funds for training from a trust set up by ArcelorMittal's chairman

It's no surprise that when Bindra, who is now the toast of the nation, ran out of bullets for practice he had to turn to an unlikely source for help: Lakshmi Mittal, one of the richest men in the world and another of India's celebrated sons. Mittal, who is chairman of ArcelorMittal (MT), the world's largest steelmaker, left India many decades ago, but maintains a keen interest in the country. At sporting events—like the 2004 Olympics in Athens—he and his family found themselves cheering for teams picked at random because no Indians had even managed to make it past the qualifiers.

But at the 2005 Wimbledon tennis tournament, he met India's Mahesh Bhupathi, a player who has had considerable success in mixed doubles. Bhupathi and a friend convinced Mittal to put up $10 million to help support a few athletes with an eye toward the London Olympics in 2012, when the Games will be held in Mittal's backyard—he lives in Kensington and can sometimes be seen riding a bicycle in Hyde Park. Regarding Bindra's Beijing triumph, "I am absolutely delighted," says Mittal, whose Mittal Champions Trust got Bindra a physical therapist, a mental trainer, and on that day when the bullets ran out, cartridges to practice with. "This is a great day for Indian sports."

Mittal's trust is administered by his son-in-law, Amit Bhatia, and this year it supported 14 Indian athletes at the Olympics. Many, unlike Bindra, are from less affluent backgrounds, reflecting the kind of conditions under which most of India lives. Archer Laishram Bombayla Devi, who picked up a bow and arrow after seeing people hunt in the fields near her home in rural India, said she spent two years without a coach until the trust stepped in. Now she trains with a foreign coach, for which the trust pays, and has a structured and disciplined training process. "The trust is a lifesaver for a lot of athletes who are not getting any help," she says.

From : www.businessweek.com