Articles by Shashwat
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Building the Super Giants – one step at a time
Building the Super Giants – one step at a time
IPL retention talks underway with these brilliant minds, marks an important chapter in the Super Giants story; one that…
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Shashwat Goenka shared thisA strong manufacturing ecosystem is built by developing capabilities that matter. PCBL Chemical’s approval under the Electronics Components Manufacturing Scheme for its Acetylene Black project is an important step in that direction. We are grateful to Shri Ashwini Vaishnaw for recognising this opportunity under the ECMS and for the Government’s continued push to build critical technology and manufacturing capabilities in India. Acetylene Black is a critical conductive material used in lithium-ion batteries and other advanced industrial applications. Building this capability in India can strengthen domestic supply chains while supporting the growth of the country’s battery and energy-storage ecosystem. This is also an important milestone in PCBL Chemical’s evolution into a broader advanced-materials business. Congratulations to the PCBL Chemical team on this achievement. There is much more to build from here.Shashwat Goenka shared thisThe next chapter of Make in India will be about shaping the building blocks of tomorrow. PCBL Chemical’s ₹329 crore Acetylene Black project has received approval under the Electronics Components Manufacturing Scheme (ECMS). Acetylene Black is a critical conductive material used in lithium-ion batteries and other advanced applications. Alongside our other battery material-focused investments, this is part of a broader opportunity to build an advanced materials ecosystem in India. The goal is to build deeper capabilities, strengthen manufacturing and develop more of the value chain here in India. Ashwini Vaishnaw | Ministry of Electronics and Information Technology #ECMS #MakeInIndia #AcetyleneBlack #BatteryTechnology #PCBLChemical #RPSGGroup #GrowingLegacies
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Shashwat Goenka shared thisIndia's solar story is entering a new phase. Adding 27 GW of solar capacity in just the first half of 2026, a 49% jump over last year, reflects the scale and speed of India's energy transition. It is also a clear outcome of the Modi government's sustained policy focus on renewable energy, which has given industry the confidence to invest and scale. With solar now accounting for nearly 30% of installed power capacity, it is becoming central to how India will meet its future energy needs. The opportunity ahead is immense. The focus now must be on building the capacity, infrastructure and ecosystem needed to sustain this momentum. At RP Sanjiv Goenka Group, we see solar as integral to building India’s energy future. Through our renewable energy investments, we are building a significant solar portfolio, with the ambition to strengthen clean power capacity and contribute to a more energy-secure India. Narendra Modi Ministry of New and Renewable Energy (MNRE)
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Shashwat Goenka shared thisA valuable discussion on the risks and opportunities that will define India over the next decade. India's story today is one of structural transformation, and it is well placed to offer the world a model that combines growth with durability. Discussions like these sharpen how we think about risk and energy security, and India has a real part to play as a place where innovation, adaptability and scale come together. Thank you to the World Economic Forum and IRM India Affiliate for bringing together this distinguished group. Glad to have opened this roundtable and to see it feed into the Global Risks Report 2027 and the wider dialogue at Davos.Shashwat Goenka shared thisMr. Shashwat Goenka, Vice-Chairman, RP Sanjiv Goenka Group delivered a powerful opening address at the World Economic Forum and IRM India Affiliate Virtual Roundtable Meeting on India Risks and Opportunities 2027. Bringing together India's foremost industry leaders and experts, the dialogue explored the emerging #risks and opportunities that will shape the country's future over the coming decade. The deliberations will help inform the context for the Global Risks Report 2027 and contribute to the conversations that will unfold at Davos, reinforcing the importance of collective foresight, #resilience and responsible leadership in an increasingly uncertain world. Hersh Shah, SIRM | Ian Livsey | Ian Springett | Sahil Shetty | Sourav Majumdar | Shailesh Haribhakti [GCB.D] | Dinesh Kanabar | Dhanpal Jhaveri | Mehul Shah | Rahul Parekh | Stephen Sidebottom | Sanjay Himatsingani #RiskManagement #IRMIndia #WEFShashwat Goenka's Opening Address at the WEF-IRM India Roundtable MeetingShashwat Goenka's Opening Address at the WEF-IRM India Roundtable Meeting
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Shashwat Goenka shared thisToday, we made a significant leap in our renewable journey at RPSG. This milestone helps us clearly envision the transition from our heritage in conventional power to building a diversified energy platform for India's next phase of growth. At an enterprise value of ₹4,859 crore, this is one of the largest acquisitions of operating solar assets in the Indian market. What makes this transaction particularly compelling for Purvah Green: -- Immediate operating scale, with 1.4 GWp of assets already in operation -- Strong revenue visibility, with more than 90% of the capacity contracted under long-term PPAs and an established generation track record -- Accelerated growth, taking Purvah's contracted capacity to 4.8 GWp, alongside 2.2 GWh of battery capacity under implementation, and bringing us closer to our 10 GW ambition We are also pleased to build on the work done by ReNew, under the leadership of Sumant Sinha, in creating and scaling these assets. We look forward to taking this portfolio forward. As India's renewable ecosystem matures, we believe the opportunity lies in combining greenfield development with selective acquisitions of quality operating assets, creating platforms built for scale and long-term value.
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Shashwat Goenka shared thisWimbledon earned over ₹4,600 crore in fourteen days, and did it with only around 15 commercial partners. No title sponsor. No advertising boards on Centre Court. Far fewer names than an event that size would normally carry. By the usual playbook it is leaving money everywhere. Yet sponsorship alone was still around ₹1,100 crore in 2024. The reason is tenure. Slazenger has supplied the balls since 1902. Robinson's since 1935. IBM has run the technology for over 35 years. These are not contracts that come up for review every season. They are measured in decades. Fewer partners on longer deals changes the maths. Each slot is scarce, so each one pays a higher rate. And a partner who expects the association to outlast its own leadership behaves differently. It invests in the relationship instead of squeezing it at every renewal. Most businesses run the other way. The instinct is to keep adding partners, because each new one is revenue you can book this quarter and makes sense on its own. What gets missed is that every name you add lowers the worth of the ones already there. A crowded roster has no scarcity left to sell. I see the same thing in retail. The pull is always to fill the shelf and sign every brand that will pay for the space. But the associations that hold their value are the handful you protect and grow over years. How much your name is worth to a partner depends on how few people you have given it to. In our own business the partnerships I value most are the oldest ones, the ones we have grown slowly and never diluted. That is what makes the name worth something to the next partner who wants in.
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Shashwat Goenka shared thisBeing bored makes people think better. BUT, there is also an entire industry making sure you are never bored again. In 2014, two researchers at the University of Central Lancashire ran a simple study. One group copied numbers out of a phone book for a while, a deliberately dull task. Another group did something more interesting. Then both were given the same creative exercise, and the bored group came up with more original ideas. Mann's explanation was plain. When nothing is arriving from outside, the mind turns inward and starts generating its own material. Boredom is not idle time. It is often the setup for the useful thinking that follows. The reason this matters now is that boredom is getting hard to come by. Over the last twenty years it has been steadily removed from ordinary life. This did not happen on purpose. It came from simple economics. Every empty moment a person has is a moment they might spend somewhere other than on a given app or feed, so an entire industry has got very good at making sure the empty moment never arrives. You can see the mechanics if you know where to look. Autoplay begins the next thing before you decide whether you want it. The feed refills before you reach the end, so there is no end to arrive at. None of it is sinister. It is what happens when a lot of smart people are all rewarded for the same thing, which is holding your attention a few seconds longer than yesterday. The trouble is what gets removed along the way. If boredom is one of the conditions under which people think well, then we have been deleting it without ever discussing the trade. The empty afternoon, the queue with nothing to do in it, the long drive where the mind used to wander. Nobody asked what those moments were for. They never showed up as a cost anywhere, so they were easy to give away. I notice this most at home. When my daughter says she is bored, my first instinct is to solve it, and I have started catching that instinct and leaving it alone. A child left bored for long enough eventually invents something. A child handed a screen the moment boredom appears and never gets there, because the problem is gone before they can do any work. The same is true for the rest of us. The only difference is that a child has not yet learned to reach for the screen without thinking, and I would like to keep it that way for a while longer. In fact, some of my best ideas have come when I’m not constantly bombarded with information overload. How often do you plan/calendarize in your day to take a moment, to be in the moment, and to let yourself think?
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Shashwat Goenka shared thisIndia holds roughly 2.5% of the global chemicals market, and yet it still imports the very ingredients for the medicines it sells to the world. The reason is not capability. The world is building EVs, solar panels, and semiconductors that need chemicals India can already make. Every major industry, including pharma, electronics, and automotive, is actively rewiring its supply chain and looking for a second home for its chemical inputs. India is the obvious destination. The opportunity, then, is straightforward. Raise India’s share of specialty chemicals meaningfully over the next decade. But scale alone is not enough. Global leaders win on molecules that take years of process chemistry and customer qualification to build. That is how durable margins, sticky relationships, and long-duration cash flows are created. That is exactly where India must invest: R&D, green chemistry, and specialty niches like phosphonates, chelates, and battery materials. China spent 25-30 years climbing this curve. India can do it in half the time, but only by competing on capability, not price. I see this pattern every time a global buyer evaluates an Indian supplier. Process consistency, certifications, and supply reliability always come before price. That is where the margin lives, and that is the capability India needs to build. And the clock is already running. A chemical facility takes five to seven years to commission. Indian companies that make the right investment calls today will determine where the world sources from in 2035. The capability already exists, and the window is open. What India lacks is not talent or capital or policy. It is the urgency to move before someone else does.
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Shashwat Goenka shared thisWomen are 48% of India's population. They contribute just 18% to its GDP. I raised that gap with Smriti Irani ma'am during our fireside chat at the Fortune India Most Powerful Women summit, and her answer reframed the whole question for me. Her point was that 18% is not the whole picture. It is only the slice we manage to count. That figure, she explained, mostly reflects the three crore businesses women formally own. It leaves out the 1.5 crore they run informally, the roughly 2.5 crore people those businesses employ, and the nine crore women in self-help groups whose grassroots contribution she puts at close to $37 billion. The contribution is already there. We just have not built the systems to see it. What struck me most about her work with SPARK was not its scale, though reaching a lakh women-owned businesses across 300 cities is no small thing. It was what she said about ambition. Almost every woman she meets wants a place in a national or global supply chain. The ambition is not the problem. What holds these women back is access and recognition. We spoke about AI as well. Her concern was hard to argue with. Foundational models are trained on data scraped from the internet, and that data does not tell the female story well. She pointed to a credit card algorithm that gave a woman a lower limit than her husband on identical finances, and to car safety systems tested largely on male bodies, with little thought for women, or for a woman who is pregnant. AI will only ever reflect the data we feed it. If we want it to be fair, we have to build that fairness in on purpose. But the part I keep thinking about is property. A good salary is not the same as security. There is research showing that even a strong paycheck does not protect a woman from harm at home. Real security comes from ownership, from owning the home you live in. We raise daughters to study hard and wait for the right partner, when we could just as easily raise them to think about the first house they will buy. She lives this herself. When she returned to television, she negotiated hard for her pay, something she said even men rarely do openly, precisely so she could tell other women to do the same. I come from a family where the women decide most things. My mother, my sister, my wife, and now my two young daughters. I walked into this conversation expecting to talk policy and economics. I walked out of it thinking about what I want my daughters to grow up believing about ambition, ownership, and their own worth. Thank you, ma'am, for an honest and generous conversation.
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Shashwat Goenka shared thisThank you, Premier Jacinta Allan. It was a real pleasure to meet in Melbourne. When the Premier visited India in 2024, we agreed that Firstsource would establish its Australia headquarters in Victoria. Two years on, that headquarters is up and running, and growing every day. This visit gave us a chance to look ahead. We discussed where Firstsource is taking the business over the next three years, and a few other sectors in Australia where there is real scope to do more together. I came away convinced there is a lot worth pursuing. Victoria has been a warm and reliable partner from the start, and the state's openness to business has made a real difference. We are glad to be building here!Shashwat Goenka shared thisWhen I became Premier, my first overseas trip was to India. On that trip in 2024, we secured thousands of Victorian jobs in partnership with Indian businesses - including Firstsource, after a great meeting with Mr Sanjiv Goenka. So it was an honour to welcome his son Mr Shashwat Goenka here in Melbourne, where two years on, Firstsource now has its first Victorian headquarters. Creating jobs for over 400 workers. A win for local jobs, boosting Victoria's economy and strengthening India and Melbourne's bond.
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Shashwat Goenka liked thisShashwat Goenka liked thisYesterday was the culmination of a wider Lancashire Cricket Club growth strategy developed 7 years ago with the vision of our late Chair David Hodgkiss after the sell out India vs Pakistan match in the ICC 50 over world cup match in Manchester when he suggested to raise Lancs profile in India. James Sheridan Mark Chilton Angela Lowes have worked hard to build relationships across India since then. Colleagues & Peers have often questioned this strategy, asking regularly how can we justify flights & hotels without a deal on the table. The answer is simple. If you want to do business in India it is a long term play & not transactional. A different market to the UK:One of the fastest growing economies in the world & the largest democracy & a burgeoning middle class with an ever increasing appetite for UK Goods & Services. And yet, you can't just do a deal. It is about trust & building a long lasting relationship. We learnt this early on & believed that a deeper approach would provide the optimum reward. That approach became more focused when England & Wales Cricket Board (ECB) and Vikram B. determined to seek investment in The Hundred competition. Again, colleagues and peers focused on the end point, the Auction and the ultimate enterprise value of their teams. Conversely we went to India a year out to meet varying IPL owners as we knew we wanted an Indian Partner. An expert in Cricket in the world's biggest market for Cricket of 1.4 billion. In May 2024, Dr. Sanjiv Goenka, Chair of RP Sanjiv Goenka Group generously gave Mark Chilton & I, 2 hours of his precious time & a relationship was born. RPSG Sports Private Limited later won the auction at an enterprise value of £116m ( highest outside of London) & we completed in July 2025 & created a 70/30 joint venture company with them. We built a ground up JV operating agreement as a framework for how we would work together but the trust began to build as it became clear that we had a shared vision for a new sports team in Manchester, & Manchester Super Giants was born. Gopal Rathi Vinay Chopra Navneet Kaur Dang Satyajit Mahapatro have made this partnership work alongside James Sheridan Mark Chilton Angela Lowes Liz Cooper Angela Hodson. Many thanks to Shashwat Goenka for his onward vision & leadership as Vice Chair of the new company. Roll forward to 2026 and working together we welcomed James Young & Elliot Lake as the first employees of Manchester Super Giants. Utilising the new India UK FTA to deliver Fan Jerseys to all 2026 ticket holders was a masterstroke in fan engagement. And then the trust and mutual confidence crystalized in both partners jointly acquiring the B and Q land together. Yesterday WE delivered a first trophy for the Super Giants in our first year with an incredible performance by our Men's team to win The Hundred. Vision, Strategy, team work & execution. I am so proud of all my amazing team mates that have worked so hard to make this happen. #CricketjustgotBigger
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Startup Crunch
Direct-to-consumer athleisure brand Cava Athleisure is in advanced discussions to raise Rs 35 crore from Sharrp Ventures | Harsh Mariwala Investment Office Ventures, the family investment office of Marico founder Harsh Mariwala, and other investors. If completed, the funding would mark the company's largest fundraising effort since its founding in 2020, signaling growing investor appetite for India's booming athleisure sector. The new capital infusion comes after Cava raised approximately Rs 8-10 crore from Spring Marketing Capital and other investors in a June 2024 seed round. The funding is expected to support Cava's strategic growth initiatives, including an expansion into offline retail channels and the launch of a dedicated men's activewear line. The brand's valuation reportedly doubled to Rs 120 crore in the six months following its June 2024 seed round, indicating strong investor confidence in the company's trajectory. Founded by sisters Ria and Shreya Mittal, who were just 20 and 18 years old at the time, Cava was born from their frustration with the lack of premium, functional athleisure options in India during the pandemic. The sisters leveraged their family's three decades of garment manufacturing expertise to build the brand, which emphasizes quality, sustainability, and trend-driven design using materials like BCI cotton and recycled polyester. #D2C #Funding #StartupNews #StartupIndia #Startups #News #India
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Channeliam.com
Diageo, RCB’s parent company, is considering selling its stake after the team’s first IPL title, with investors like Adar Poonawalla, Parth Jindal, and the Adani Group showing interest. 𝒇𝒐𝒓 𝒎𝒐𝒓𝒆 𝒅𝒆𝒕𝒂𝒊𝒍𝒔 https://lnkd.in/gdgUpQdZ #RCB #IPL2025 #CricketBusiness #Diageo #AdarPoonawalla #AdaniGroup #JSWGroup #SportsInvestment #CricketNews #RoyalChallengersBengaluru
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The CEO Magazine - India
RAS Luxury Skincare has secured $7.5 million in a Series B funding round led by Dabur Ventures, with participation from Unilever Ventures. The Raipur-based brand plans to use the capital to accelerate omnichannel expansion across D2C, e-commerce, quick commerce and offline retail, including Exclusive Brand Outlets and HORECA partnerships. Founded in 2021, the company follows a vertically integrated model from botanical cultivation to in-house R&D and manufacturing. RAS reports a three-year revenue CAGR of about 75% with ARR nearing Rs 100 crore. #rasluxuryskincare #beautybrand #seriesbfunding #daburventures #unileverventures #d2cbrand #startupindia #businessnews #venturecapital #skincareindustry #beautytech #consumerbrands #retailexpansion #entrepreneurship #growthcapital #fundingannouncement #premiumbeauty #digitalcommerce #marketexpansion #brandgrowth #consumerstartup #investmentnews #beautyindustry #startupgrowth
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CNBC-TV18
Orkla India — the company behind iconic brands like MTR Foods Private Limited and Eastern Condiments Pvt Ltd— is coming to the markets. They are looking to raise ₹1,667 cr at a market cap of ₹10,000 cr. The Orkla India strategy is not about going pan India, it is about building regionally-dominant brands. From Karnataka’s MTR to Kerala’s Eastern Condiments, the focus has stayed on deep local relevance — because as the co's CEO & MD Sanjay Sharma says, “In India, food is regional and the business of food is local.” Don't miss the conversation with Reema Tendulkar on IPO KYC #IPOKYC #IPO #DalalStreet #Orkla #MTR #EasternCondiments #FMCG
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Indian Startup News
Cava, an athleisure brand for women and men, is in talks to raise Rs 35 crore from Marico’s family office – Sharrp Ventures – and others in a fresh funding round, sources privy to internal developments informed IndianStartupNews (ISN). This will be its largest and latest round after some infusion in January 2024. The startup has previously raised around Rs 8-10 crore from Spring Marketing Capital and others. The brand competes with Cultfit, Bold fit, Bliss Club and more in the athleisure space. Read the full story here:👇 https://lnkd.in/dExW5gKH #athleisure #women #brand #clothing #apparel #startup #indianstartupnews
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The Ken
FMCG giants are caught in a spice war. MTR’s owner beat them to it years ago. Large FMCG firms have been plucking up regional spice brands in quick succession as they've realised the potential of the spice market. But IPO-bound Orkla India, MTR's parent, was an early mover. The spice category offers some of the highest margins in the FMCG space, but it comes with its unique challenges. Listen to this Daybreak episode, first published in July, at the link in the comments.
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