New Delhi, March 8 -- Qimat Rai Gupta's journey from the small town of Malerkotla in Punjab, where he sold kerosene on a bicycle, to building Havells, a global electrical equipment powerhouse, is a testament to the grit and vision of one of India's most inspiring yet understated entrepreneurs.

Born in 1937 to a lower-middle-class family with no business pedigree, Gupta, who was called Bhaisahib by older employees and QRG by others, defied the odds in the India of the 1970s, where connections and inherited wealth often dictated success. His story rivals the bootstrapped triumphs of global icons such as Sam Walton of Walmart and Ingvar Kamprad of IKEA, yet remains distinctly Indian in its context and execution.

At 21, QRG left for Delhi a...