There are already hugely influential Indian businessmen, but they are not in IT. Consider Mittal, a very large steel company. However there is a cultural component to success in software or Internet services - the best thing you could do to encourage Indian success would be to get more Indians connected to broadband.
Duplicating other conditions would be key. Universities that encourage professors to be involved with industry, like Stanford, would help tremendously.
Also, doing an end-run around broadband might be an even better strategy. How about distributing OpenMoko sets and programming environments?
Another thing to look at -- see what the US is doing wrong and give India an advantage by not duplicating those mistakes.
Isn't the value what a steel company produces already laying inside of the ground? Making money off of natural resources seems to require connections in government more so than it does skill or innovation.
Not really - Mittal's skill has been in buying up loss making mills and turning them around. Their core skill is in training people to operate existing mills more efficiently.
Secondly, you don't know much about steel. For a start it is not "already laying inside the ground" (go on, find me a "steel mine" somewhere). It's not one thing either; there are countless alloys, and every customer wants something slightly different. Steel is a manufacturing business like any other. You might as well say the products of a bakery are just growing in a field somewhere.
You have no idea how tough it is to run a steel mill. I've been to many mills to observe their operations and different mills have different operation styles (I've been to one of Mittal Group's mills and their operation is the most minimalist). You definitely need skill in order to run the factory efficiently.
Especially at this current period when steel prices are plummeting faster than prices of raw materials are.
Managing a steel mill is not for the faint-hearted. It's nothing like running a tech company.
