‘Value attached to hard work is diminishing’: Harsh Goenka flags ‘deeper’ shift in India Inc
Goenka also turned his attention to India’s startup ecosystem, questioning whether enough entrepreneurial energy is being directed towards deep technology.
- Sep 4, 2026,
- Updated Sep 4, 2026 10:27 AM IST
Something is changing beneath the surface of India’s corporate landscape, according to RPG Enterprises Chairman Harsh Goenka. The veteran industrialist has raised concerns over what he sees as a growing preference for passive income, quick-growth startups and internal corporate battles over the harder, longer-term work of building businesses and investing in innovation.
In a post on X, Goenka argued that the country’s entrepreneurial culture may be losing some of its traditional appetite for risk, manufacturing and research.
“Something deeper is changing in corporate India. The value attached to hard work seems to be diminishing, many next-gen heirs prefer passive income to building factories and businesses, startups chasing delivery apps over deep tech, fights within and between businesses. India has the talent and capital but our entrepreneurs must rediscover the hunger to invest in R&D and areas of the future,” he wrote.
Concern over the next generation
Goenka’s remarks point to a generational shift in how wealth and entrepreneurship are being viewed. He suggested that some members of business families are increasingly choosing passive income over actively building or expanding companies.
The distinction is significant for an economy seeking to deepen its manufacturing base and create globally competitive businesses. Building factories, developing products and scaling industrial enterprises typically require substantial capital, patience and years of execution.
Startups and the deep-tech gap
Goenka also turned his attention to India’s startup ecosystem, questioning whether enough entrepreneurial energy is being directed towards deep technology.
While consumer internet businesses and delivery platforms have attracted significant capital and talent, deep-tech ventures often require longer development cycles, substantial R&D spending and greater tolerance for failure.
His comments come against the backdrop of India’s broader push to build capabilities in areas such as artificial intelligence, semiconductors, advanced manufacturing, defence technology, space and other emerging technologies.
‘Talent and capital’ are not enough
For Goenka, the issue is not a lack of resources. India has both capital and a large pool of skilled talent, he said. The bigger question is where entrepreneurs choose to deploy those resources.
His call for greater investment in R&D reflects a wider challenge for Indian businesses: moving beyond scale and cost advantages towards original technology, intellectual property and products capable of competing globally.
Something is changing beneath the surface of India’s corporate landscape, according to RPG Enterprises Chairman Harsh Goenka. The veteran industrialist has raised concerns over what he sees as a growing preference for passive income, quick-growth startups and internal corporate battles over the harder, longer-term work of building businesses and investing in innovation.
In a post on X, Goenka argued that the country’s entrepreneurial culture may be losing some of its traditional appetite for risk, manufacturing and research.
“Something deeper is changing in corporate India. The value attached to hard work seems to be diminishing, many next-gen heirs prefer passive income to building factories and businesses, startups chasing delivery apps over deep tech, fights within and between businesses. India has the talent and capital but our entrepreneurs must rediscover the hunger to invest in R&D and areas of the future,” he wrote.
Concern over the next generation
Goenka’s remarks point to a generational shift in how wealth and entrepreneurship are being viewed. He suggested that some members of business families are increasingly choosing passive income over actively building or expanding companies.
The distinction is significant for an economy seeking to deepen its manufacturing base and create globally competitive businesses. Building factories, developing products and scaling industrial enterprises typically require substantial capital, patience and years of execution.
Startups and the deep-tech gap
Goenka also turned his attention to India’s startup ecosystem, questioning whether enough entrepreneurial energy is being directed towards deep technology.
While consumer internet businesses and delivery platforms have attracted significant capital and talent, deep-tech ventures often require longer development cycles, substantial R&D spending and greater tolerance for failure.
His comments come against the backdrop of India’s broader push to build capabilities in areas such as artificial intelligence, semiconductors, advanced manufacturing, defence technology, space and other emerging technologies.
‘Talent and capital’ are not enough
For Goenka, the issue is not a lack of resources. India has both capital and a large pool of skilled talent, he said. The bigger question is where entrepreneurs choose to deploy those resources.
His call for greater investment in R&D reflects a wider challenge for Indian businesses: moving beyond scale and cost advantages towards original technology, intellectual property and products capable of competing globally.