Ideas Of India Summit 2025: Shashwat Goenka Talks Business, Legacy, and Innovation: 'Every Generation Must Create Its Own Legacy

At the Ideas of India Summit 2025, Shashwat Goenka, a key member of the RP Goenka family and a leading entrepreneur, shared insights on maintaining a family business legacy while innovating for future generations. Moderated by Vir Sanghvi, the discussion delved into the challenges of balancing tradition with innovation in today’s rapidly evolving business landscape. Goenka emphasized the importance of not just preserving inherited wealth, but also creating new businesses to build a lasting legacy. In response to a question about youth and work culture, Goenka stressed that productivity, rather than sheer hard work, is key to success. He pointed out the surge of startups in India over the past decade as a testament to the country's increasing productivity. Reflecting on family legacy, he remarked, "Every generation must create its own legacy, and it’s about both growing what we inherit and creating new businesses."Goenka also spoke about his grandfather, RP Goenka, recalling his ability to connect with people of all ages, and his father’s remarkable ability to stay current with new technologies. When asked about business figures he admires, Goenka mentioned Mukesh Ambani for his visionary leadership and meticulous execution. He noted, "He thinks big, and executes flawlessly, yet remains humble and affectionate with everyone."