Shashwat Goenka

About

If there is one constant in Shashwat Goenka’s workday, it is the sheer variety of decisions it demands. A morning discussion on renewable energy capacity could be followed by a review of a consumer brand launch, an AI strategy session at Firstsource, and conversations around sports or media investments. As vice chairman of the RP-Sanjiv Goenka Group, Goenka oversees businesses that operate at vastly different speeds, yet all contribute to the same long-term ambition: ensuring the group’s more than 200-year legacy remains relevant in a rapidly changing India. “The definition of a modern conglomerate is no longer determined by the number of businesses it owns, but by how effectively it allocates capital, builds differentiated capabilities and adapts to structural shifts. Our focus is on sectors where India’s long-term growth is creating enduring opportunities, whether that is energy transition, changing consumer behaviour or AI-led services. The objective is to build businesses that are leaders in their categories and, together, create sustainable long-term value,” says Goenka. While the playbook for each of his businesses is different, the one thing that is common across this diverse portfolio, according to Goenka, is disciplined capital allocation, building sector-specific capabilities and maintaining a long-term perspective. “Leading a diversified group means managing different time horizons simultaneously while remaining focussed on creating enduring value.” That philosophy is perhaps most visible in the group’s energy transition business. Its journey began with the commissioning of the RPSG Group’s first greenfield solar plant, a 300-MW project at Bhadla in Rajasthan. Through a long-term power purchase agreement, the clean power generated there now serves consumers in Kolkata. Today, the group’s renewable energy ambitions extend far beyond a single project, with over 2.5 GW of solar, wind and battery storage capacity under advanced stages of construction and 3.2 GW planned in the first phase. Through RPSG Solvanta, it is also building a solar manufacturing ecosystem, with 1 GW of module capacity already operational and a long-term ambition of over 5 GW across cells, modules and upstream manufacturing. A similar transformation is underway at Firstsource. The company crossed the $1-billion revenue milestone in FY26, delivering close to 20% growth YoY, while evolving beyond its origins as a business process outsourcing (BPO) company. “Firstsource began as a BPO company. Today, it is an intelligence partner that designs, builds and operates AI-native operations for clients end to end,” says Goenka. For Goenka, these businesses may operate in different sectors and at different speeds, but they are united by a common philosophy: building enterprises that are young at heart, future-focussed and grounded in the values of a two-century-old legacy.