RPG Group Chairman Harsh Goenka expressed his appreciation to JSW Steel Managing Director Sajjan Jindal for his commendation of Goenka’s son, Anant Goenka. Jindal remarked that Anant is “smarter” than his father, emphasizing the impressive achievements of the new generation of business leaders. During the EY Entrepreneur of the Year awards, Jindal stated, “To a point, Harsh Goenka’s son is smarter than Harsh Goenka, and he’s doing an extremely good job.” He also acknowledged Uday Kotak’s son, Jay Kotak, noting, “Jay is extremely smart, working in the bank, and doing extremely well.”
Goenka shared a video clip of Jindal’s remarks on the social media platform X, expressing his joy as a father: “The greatest joy for a father is hearing that his son is smarter than him. Feeling truly happy today as my friend @sajjanjindal put it beautifully.”
Jindal further commented on the trend among next-generation business leaders, indicating that many prefer managing family offices rather than venturing into new business opportunities. He recounted an experience where his son, educated at Harvard, expressed interest in investing in an electric vehicle two-wheeler company in Bengaluru. Jindal advised him against it, saying, “Not at all a good idea. I want you to work. I want you to make money and not use my money, what I have earned over the years.”
Uday Kotak, founder of Kotak Mahindra Bank, echoed similar sentiments, expressing concern over the inclination of young business heirs to opt for “the easy way” by managing family investments instead of building operational businesses. He stated, “I would love to see this generation be hungry for success and build operational businesses,” during the Kotak Institutional Equities investor conference.
In a separate discussion, Jindal took a jab at Elon Musk, asserting that the Tesla CEO would not disrupt the Indian market and reaffirmed confidence in Indian brands like Tata and Mahindra. He remarked, “Elon Musk is not here. He is in the US….We Indians are here. He cannot produce what Mahindra can do, what Tata can do—it’s not possible.” Jindal acknowledged Musk’s intelligence and accomplishments but emphasized the challenges of succeeding in the Indian market.
