Once sheltered from overseas competition, Indian companies are now building empires - ramping up exports, making acquisitions in the U.S. and Europe, and attracting billions in foreign capital.
Tulsi Tanti made his fortune building windmills, not tilting at them. But executives at French nuclear energy giant Areva might be forgiven for conjuring images of Don Quixote when the 49-year-old Indian entrepreneur squared off against them this year for control of Germany's leading wind-turbine manufacturer.
Areva - controlled by the French government and boasting annual revenue of $13.7 billion - is one of the world's most powerful power companies. Tanti's Suzlon Energy is a family-owned venture, barely a decade old.
But Tanti's bid for Hamburg-based REpower was anything but quixotic. Back home in India, Tanti had reinvented the model for selling wind power, forsaking the fragmentation typical of the global industry for an end-to-end approach consolidating the entire process - surveying and purchasing sites for wind farms, building and maintaining turbines, and even distributing the power - under a single corporate roof. Suzlon's sales were soaring, its stock hitting record highs on India's stock exchange, and foreign bankers were tripping over one another to lend Tanti money.
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