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The distinction is one made by Baba Kalyani, who runs another highly successful Pune-based manufacturer, Bharat Forge.
ECONOMIST: Few hands make work light
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Local firms, such as Bharat Forge, have been shedding unskilled labour, investing in technology and building brands and distribution overseas.
ECONOMIST: Manufacturing in India
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In 1989, he changed Bharat Forge's business model, investing in brand-new facilities and new technology, some of it developed in-house.
ECONOMIST: Few hands make work light
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Bharat Forge, a family-controlled firm also based in Pune, is more ambitious.
ECONOMIST: Manufacturing in India
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His Bharat Forge has joint venture with Faw, China's largest forging company.
FORBES: Magazine Article
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Last year India's Bharat Forge bought Federal Forge of Lansing, Mich.
FORBES: The Parts Paradox
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Last year India's Bharat Forge bought Federal Forge of Lansing, Michigan.
FORBES: The Parts Paradox
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Singh, pharma entrepreneur K.Anji Reddy, vaccines-maker Cyrus Poonawalla, Rahul Bajaj, patriarch of the Bajaj Group, Baba Kalyani of Bharat Forge and tech tycoons Azim Premji and Shiv Nadar.
FORBES: Bill Gates, Warren Buffett court India's richest