A ’second wave’ of entrepreneurial firms is poised to drive the economy. And they aren’t in the outsourcing sector.
MSNBC:
India’s rise as an economic power is known the world over, thanks largely to the global ambitions of its biggest corporations. But names like Infosys, Tata and Reliance aren’t necessarily as important to India’s future as modest firms like Acme Tele Power Ltd.
It sounds a bit like a store you might find on Main Street in Peoria, but one look at the numbers belies this association. Acme has a profit margin of 33% on 2006 revenues of $300 million, which have risen more than 3,000% in 4 years. Acme makes energy-efficient sheds that protect cell-phone relay stations, but its 32-year-old founder Manoj Upadhyay (photo) is plowing most of that profit into R D, and files for a new patent about once a month. ‘He is poised to grow exponentially,’ says Sandeep Ghosh, director of commercial banking for Citigroup India. ‘If only one of Upadhyay’s new ideas comes off, it’s going to be fabulous.’ Read it all.
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