PHOTO BY SHASHWAT NAGPAL
1. Indian Premier League
The IPL has transformed cricket, establishing a new model that shows how the game can be revamped, restructured, and tailored to today's short attention spans and entertainment infrastructure -- and succeed wildly. This hot sports league is expected to generate revenue of more than $2 billion over its first decade, including proceeds from TV and promotional rights, franchise sales, and theatrical rights to screen IPL games in cinema houses across India.
Top 50 No. 222. VNL
This startup founded in 2004 reverse-engineers telecom for the rural poor with solar-powered base stations that can be assembled onto a village home's rooftop by anybody and operational with mobile service within six hours. Two telecoms in Africa have already signed up to roll out the technology.
Top 50 No. 393. Reliance Industries
You can buy everything from gas to groceries at one of Reliance Industries' myriad subsidiaries, including Reliance Fresh (food), Reliance Solar (solar power), and Reliance Institute of Life Sciences (education). But what sets
the $29 billion company apart from other behemoths is extreme vertical integration: Reliance doesn't just make and sell suits (under the brand Vimal); it makes and sells the fabrics to make the suits, and the yarn to make the fabrics, and the thread to make the yarn. Says innovation expert Dev Patnaik, "Reliance is the GE of the next century."
4. Godrej Group
Godrej crowdsourced rural villages for design input on its small, affordable ChotuKool refrigerator, and it partnered with more than 40,000 barbers and salons to promote a new hair-care line this summer. Godrej's consumer products division also ranked No. 11 in Hewitt Associates' annual 25 Best Employers of India in 2009, citing a strong performance-linked bonus system and a 1% attrition rate. Godrej Consumer Products' net tripled to Rs 93 crore ($20 million) in Q2 2009, while revenue increased 65% to Rs 576 crore ($125 million).
5. Narayana Hrudayalaya
The No. 3 company on last year's list for India -- honored for its low-cost, high-quality heart surgeries -- is still doing amazing work. It's now working to extend its clinical expertise to cancer with the launch of Biocon, a 1,400-bed facility providing treatment for head-and-neck, breast, and cervical cancers. Also, last year's Integrated Telemedicine Project aims to extend the hospital's