As recent events show, Mallya also shares Trump's checkered record when it comes to business decisions.

Imagine the buzz Mallya has generated this week in India when Diageo plc, the multinational drinks purveyor, and United Spirits Ltd. announced they were in talks over a possible deal. Through his holding company, United Breweries (Holdings) Ltd., and another investment vehicle called Kingfisher Finvest India Ltd., Mallya controls a 27.7% stake in United Spirits, which claims to be the world's largest spirits company, by amount of alcohol sold.

These discussions come as Mallya is in desperate negotiations with creditors of publicly traded Kingfisher Airlines Ltd., an Indian carrier Mallya named after a beer brand. Kingfisher is so bloated by debt it can barely fly. It defaulted earlier this year and creditors are getting tetchy.

Add to this mix a change in the rules governing airline ownership announced by the Indian government earlier this month. For the first time, foreign carriers can own up to 49% of India's airlines.

On Wednesday, Mallya told reporters on his home turf of Bangalore that he is discussing a possible sale of Kingfisher, although he declined to name the potential buyer. United Breweries (Holdings) and Kingfisher Finvest together held about 45% of the airline, as of March 31, 2012.

Mallya chairs both United Spirits and Kingfisher.

As India continues to mix it up with foreign investment and globalization, Mallya adds a huge dollop of, uh, spirit to the whole exercise.

Forbes estimates Mallya is worth $1 billion. Like Trump, however, Mallya usually resists pressure to sink his own money into his businesses. In the past, he has lent money to Kingfisher, but with fees attached.

However, it appears that Mallya put his foot into it when it comes to Kingfisher. The airline has racked up debt that totaled 91.34 billion rupees ($1.73 billion) for the fiscal year ended March 31, 2012, with far bigger financial difficulties ahead.

First, the airline remains on the hook for at least some of the 49 new aircraft it ordered from Airbus, but hasn't taken delivery on. According to an interview Mallya gave Thursday to India's Business Standard, Kingfisher can't contractually cancel an undisclosed number of those orders.

Second, Mallya added both personal loan guarantees and guarantees from United Breweries (Holdings). Mallya himself has guaranteed the equivalent of $1.1 billion, while his holding companies have guaranteed $1.68 billion, according to the airline's latest annual report. So, to keep lenders at bay, Mallya must at least look like he's raising some serious cash. At the same time, he must convince the creditors that he can hook a foreign carrier with far bigger pockets to take on some of the debt.

India's stock markets are certainly happy with the news. Shares in United Spirits soared 10.3% on Thursday, while Kingfisher gained more than 8%.

Diageo's interest in United Spirits is no surprise. The purveyor of everything from Johnnie Walker to Guinness has long coveted a foothold in India, with its eager consumers, a middle class that now totals as much as 300 million and growing consumption of alcohol. Diageo tried in 2008 and 2009 to buy a stake in United Spirits, but failed.

United Spirits is pretty much synonymous with what is quaintly termed "India-made foreign liquor," boasting an extraordinary 60% market share. Its Bagpiper brand claims to be the world's largest selling whisky, although any connection with the Scotch variety starts and stops with the label. Other brands such as McDowell's Number One, White Mischief and Celebration dominate the tens of thousands of retail liquor stores that dot the vast expanses of the Indian landscape.

United Spirits also owns the Scottish distiller Whyte & Mackay, which Mallya bought with great fanfare for £595 million in 2007, a deal long on both publicity and debt accumulation. Regulators in Scotland might not look kindly even at Diageo's indirect holding in Whyte & Mackay, since Diageo already holds more than one-third market share of Scotch whisky. Whyte & Mackay would push that close to 40%.

That may be relatively easy compared with price and control. Mallya has already signaled he's not about to fade away.

"Running an alcohol beverages business in India across 28 cities is not an easy task for a relatively new player," he said modestly in the Thursday interview. "They will require me to run their business effectively."