Latest news with #Goenka
Time of India
10 hours ago
- Business
- Time of India
Punit Goenka reloads Zee with Bullet and OTT focus. Can he beat mighty rivals?
While the battle for eyeballs is intensifying, Zee is playing the long game — and for now, investors are watching with renewed interest. (Originally published on Jun 26, 2025, 05:00 AM IST ) For much of the past decade, Zee Entertainment was a horror show for investors – a failed merger, sliding profitability, challenges from evolving technology and intense competition. When many had thrown in the towel, Punit Goenka from the founding family is back, not promising the moon, but a win in the competitive arena. The stock surged nearly 10% on Monday, hitting INR146.80 — a rare high point for CEO and promoter Goenka, who's been under
Time of India
a day ago
- Automotive
- Time of India
Lessons from space can help Indian auto leap ahead, says Pawan Goenka
As India races towards an electric mobility future, industry veteran Dr Pawan Goenka , Chairman of IN-SPACe and former Managing Director of Mahindra & Mahindra , believes the road ahead must begin with a fundamental transformation of India's automotive supply chain — starting with localising high-quality component manufacturing. 'In EVs, low-hanging fruits are already picked. We need to reach higher now,' Goenka told ET Manufacturing at the sixth edition of the Auto Tech Summit. 'India simply cannot afford to lag in developing capabilities for all major EV components — battery packs, motors, controllers, chargers, power electronics — everything. Today, the challenge isn't talent or ambition. It's scale.' Despite the emergence of hundreds of Tier-1 and Tier-2 suppliers across the country, Indian manufacturers still depend heavily on imports for several critical components, especially motors and advanced battery systems in the four-wheeler segment. Goenka pointed out that although battery pack assembly is now being done locally by most OEMs, large-scale motor manufacturing for electric cars remains elusive. 'Three-wheeler and two-wheeler motors are made here, but four-wheeler motors are still being imported. That must change,' he said. The Indian auto component industry recorded its highest-ever revenue of ₹5.6 lakh crore in FY24, according to the Automotive Component Manufacturers Association (ACMA), representing a 14.6 per cent year-on-year growth. The country also exported components worth $20.3 billion during the same period, showing India's competitiveness in global supply chains. But growth, Goenka said, is being held back by fragmentation and lack of scale. 'Multiple suppliers catering to small volumes means no one achieves efficiency. What's needed now is collaboration among OEMs — not competition — in sourcing key EV components. That's how we built scale in ICE vehicles over 25 years. We need to do the same for EVs.' He also warned OEMs not to regress to a 1990s mindset — prioritising short-term margins over long-term capability building. 'This is the time to push the supplier ecosystem forward, not cut corners,' he said. Space-age lessons for automotive scale Goenka's transition from the automotive sector to leading India's space commercialisation push has only reinforced his perspective on building ecosystems. 'Every sector change is an opportunity to learn and contribute. When I moved from cars to space, the technology complexity was staggering. But what I brought from automotive — supplier development, manufacturing discipline, ecosystem thinking — proved very useful.' He noted that while technology is unlikely to flow from automotive into space due to complexity gaps, process innovations certainly can. 'Space manufacturing today operates in batch mode. Automotive has mastered continuous flow. That's a mindset we can apply in space to scale faster,' Goenka said. India's space sector is also witnessing a parallel shift. Since the opening of the space economy to private players in 2020, over 190 space-tech startups have emerged in India, with investments crossing ₹1,000 crore in the past 24 months, as per IN-SPACe estimates. The ambition now is to grow India's share in the global space economy from the current 2 per cent to 10 per cent in the next decade — a leap that would require ecosystem-level thinking similar to what the automotive industry experienced two decades ago. Conversely, the automotive sector can stand to gain a lot from aerospace — if cost barriers are cracked. Technologies like advanced sensors, gyroscopes, anti-vibration systems, and thermal insulation, which are critical in space missions, could be translated into automotive use cases — particularly safety — if frugally engineered. 'The real challenge is bringing those costs down by removing unnecessary features and localising production. Institutions like ARAI could play a key role in bridging that gap,' he noted. Road Safety: A Cultural Imperative When asked about safety — especially for India's vulnerable two-wheeler users — Goenka acknowledged that while vehicle safety has improved drastically, the deeper issue lies elsewhere. 'Ten years ago, Indian cars weren't safe. Today, thanks to Gadkari's push, our norms match global standards. But the bigger problem is behaviour — lack of discipline on roads, refusal to wear helmets, disregard for rules. That's where we are failing.' India accounted for nearly 1.68 lakh road accident deaths in 2022, with two-wheelers involved in over 44 per cent of fatal crashes, according to Ministry of Road Transport and Highways data. Despite improved crash-test regulations and the proliferation of safer cars, India still leads the world in road fatalities. Goenka was blunt in his criticism: 'Educated people not wearing helmets — what could be more foolish? You're risking your life for what? There's no excuse. It's not a technology issue; it's a societal one.' EV Adoption: From promise to pragmatism Goenka was candid about the electric vehicle (EV) adoption journey in India. 'Three-wheelers led the charge because it made direct economic sense — more earnings, lower running costs. Mahindra's Treo helped create that ecosystem. Two-wheelers followed due to aggressive startup activity and affordability. But four-wheelers and commercial vehicles? OEMs just didn't back them early enough.' He believes momentum is finally picking up, thanks to improving products and falling battery costs. The average price of lithium-ion cells dropped by nearly 14% in 2023 globally, according to BloombergNEF, making EVs more competitive with ICE vehicles. 'New launches like the Tata BE.9, Maruti's eVX, and upcoming Korean models are changing the landscape. Once these vehicles become mainstream, adoption will accelerate. I drive a BE.9 myself — it's a joy. Costs ₹2 per km to run, compared to ₹17 for petrol. I took it to Pune and back without charging — range anxiety is no longer a real issue.' India's overall EV penetration stood at around 6.4 per cent in FY24, led primarily by electric two-wheelers and three-wheelers, which together account for nearly 90% of total EV sales. The passenger car EV segment, while growing, still forms only about 2 per cent of the total car market. Goenka expects this to change steadily: 'Let's not expect miracles. I would cautiously say 10 per cent penetration for EV four-wheelers by 2030 is achievable — provided manufacturers continue to launch compelling products and maintain pricing discipline.' He also dismissed the often cited charging infrastructure concern. 'Range has gone up so much that charging at home is enough for most use cases. Public chargers are growing anyway. That challenge is mostly behind us.' From space-grade safety principles to coordinated localisation in EVs, Dr Goenka's central message is clear: India must stop thinking small. Whether it's components, scale, or vision, the next phase of Indian mobility will demand more collaboration, deeper innovation, and unwavering focus on long-term value.
Hindustan Times
a day ago
- Entertainment
- Hindustan Times
Billionaire calls out Prada for selling ‘Kolhapuri chappals' at ₹1 lakh: ‘Cashing in on our culture'
Indian billionaire and industrialist Harsh Goenka has criticized Italian luxury brand Prada for allegedly profiting off India's cultural heritage without giving credit to its original artisans. Goenka shared an image of footwear from Prada's Men's Spring Summer 2026 collection.(X/@hvgoenka) In a post on X, Goenka shared an image of footwear from Prada's Men's Spring Summer 2026 collection, claiming they resemble India's iconic Kolhapuri chappals, but are being sold for over ₹ 1 lakh. 'Prada is selling products looking like Kolhapuri chappals for over ₹ 1 lakh. Our artisans make the same by hand for ₹ 400. They lose, while global brands cash in on our culture. Sad!' Goenka wrote. (Also Read: Prada's 'Kolhapuri chappals' make their runway debut; but this is just another Scandi scarf controversy in the making) The post follows Prada's recent runway show at the Deposito of the Fondazione Prada in Milan, introduced by designers Miuccia Prada and Raf Simons. The collection, described as whimsical and futuristic, has drawn criticism not just for its exclusivity, but also for what many see as blatant cultural appropriation. Kolhapuri chappals, handcrafted leather sandals that originated in Kolhapur, Maharashtra, date back to the 12th century and were awarded a Geographical Indication (GI) tag in 2019 by the Indian government. Kolhapuri chappal manufacturers meet Devendra Fadnavis The controversy has sparked outrage among the artisan community in Kolhapur. A delegation of chappal manufacturers met Maharashtra Deputy Chief Minister Devendra Fadnavis on Thursday to express their concern. The delegation, led by BJP Rajya Sabha MP Dhananjay Mahadik, urged the state government to escalate the issue to the Centre, accusing Prada of replicating the indigenous craft without acknowledgment or benefit to local craftsmen. While a pair of genuine Kolhapuri chappals typically retails for ₹ 1,000– ₹ 4,000 in India, artisans say some are still paid as little as ₹ 400 for their work. (Also Read: 'Non-veg eaters need not apply': Chennai man's rental post triggers debate on landlords' biases)
Time of India
2 days ago
- Politics
- Time of India
‘Sab theek hai': Harsh Goenka takes a dig at Indians ignoring local issues like potholes, jobs, and price rise
Industrialist Harsh Goenka has sparked a conversation online after his latest post on X (formerly Twitter), where he criticized the tendency of Indians to obsess over international politics while ignoring pressing domestic issues like potholes , joblessness, and inflation. In his post, Goenka wrote: 'We are like: Two people eat lunch in another country — we feel betrayed. Someone wins an election for a local position in a far away country — we lose sleep. Meanwhile, potholes, unemployment and price hikes at home? 'Sab theek hai.'' His sarcastic commentary came shortly after Zohran Mamdani , a 32-year-old Ugandan-born Indian American, made history by becoming the first South Asian to win a major-party primary for New York City's mayoral race. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Goenka's post resonated with many, drawing strong reactions from users on X. One user replied, 'Harshji, you keep bowling googlies — picking your deliveries is tough!' Live Events Another added, 'Absolutely! We're so obsessed with global affairs, even the media is. Developed nations don't care what happens here, but we are glued to their politics. Media should focus more on local issues.' Others echoed similar thoughts: 'Agree. How does someone winning a New York mayoral primary affect us? We act like global citizens while ignoring our neighborhoods. No one even asks what happened to Swachh Bharat or the cess we keep paying.' 'We're global now. Local issues didn't make the itinerary,' quipped another. Who is Zohran Mamdani? Zohran Kwame Mamdani was born in Kampala, Uganda, to Indian parents. He became a U.S. citizen in 2018 and currently lives in Astoria, Queens. His mother, Mira Nair, is a celebrated filmmaker known for movies like Monsoon Wedding, The Namesake, and Mississippi Masala. His father, Mahmood Mamdani, is a professor of anthropology at Columbia University. Mamdani moved to New York City at age 7 and graduated from Bowdoin College in Maine with a degree in Africana Studies. He previously worked as a foreclosure prevention counselor and also made a mark in the local hip-hop scene, rapping under the stage name Young Cardamom. He was elected to the New York State Assembly in 2020, unseating a long-time incumbent. As a Democratic Socialist, Mamdani has pushed for progressive legislation, including a pilot project offering free city bus rides and a bill to prevent nonprofits from supporting unauthorized Israeli settlement activities. Critics, including former Governor Andrew Cuomo, have questioned his readiness for the mayor's office. But Mamdani counters by embracing his lack of political baggage, stating he's 'proud' not to have Cuomo's 'experience of corruption, scandal and disgrace.' Mamdani's campaign has leaned heavily on creative, culturally rooted digital outreach — from Bollywood-themed TikToks to a dramatic polar plunge in a suit to symbolize his plan to 'freeze rents.'
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Business Standard
3 days ago
- Business
- Business Standard
India's space sector must shift beyond ISRO, go global: Pawan Goenka
India's space sector needs to move beyond dependence on ISRO, build globally competitive full-stack solutions, and aggressively pursue international markets, Indian National Space Promotion and Authorization Centre (IN-SPACe) Chairman Pawan Goenka has said. Speaking at the annual India Space Congress organised by the Satcom Industry Association (SIA) on Wednesday, Goenka said firms in the sector should stop worrying about 'when will ISRO give me business' and instead pursue other government departments — both in India and abroad. Goenka also highlighted the need to build foundational models for geospatial and earth observation applications by leveraging artificial intelligence (AI), machine learning (ML), and data fusion. 'There is so much that is happening outside the space sector in terms of technology that has to be brought inside the space sector, and there is no one better to do that than the private sector,' he said. One such area is space internet of things (IoT), which he said must be pursued more aggressively. Referring to constellations of small or nanosatellites that manage IoT devices and sensors across the globe, space IoT is already being used for real-time tracking of ships, aircraft and trucks in remote locations. He also said India's own regional satellite navigation system, NavIC, needs to be brought into mainstream civil applications through technological integration. Developed by ISRO as an alternative to foreign systems such as GPS, NavIC remains underutilised outside strategic sectors. Major bids soon Two major initiatives — the Earth Observation Constellation and Satellite-as-a-Service (SataaS) — will see final bids next week, Goenka said, allowing the private sector to engage with government support. SataaS is a business model where satellite operators provide access to satellite data, imagery, communications or navigation services on a subscription or pay-per-use basis, rather than requiring customers to own or launch their own satellites. One such offering is the Earth Observation Constellation, a group of satellites specifically designed to collect data about the Earth's surface, atmosphere and environment. These satellites work together to provide frequent, high-resolution imagery and other data for applications like environmental monitoring, agriculture, disaster management and urban planning. Goenka called for moving from a 'build-to-print' model to a design-centric mentality. He said ISRO is already working on reusable rockets, in-orbit servicing, space robotics and space manufacturing — areas pioneered commercially by companies such as Elon Musk's SpaceX. Stating that regulatory uncertainties and spectrum assignment issues have now been addressed by the Telecom Regulatory Authority of India and the Department of Telecommunications, Goenka said three licences have already been granted for low-Earth orbit (LEO) satellite constellations for communication. These, he said, are expected to help bridge India's digital divide.
