Zerodha CEO Nithin Kamath said that much of the success of homegrown startups to “investors outside India” and wealth needs to be created locally for India to grow inclusively.
“I’ve said this earlier: for India to grow inclusively, wealth has to be created locally. Today, much of the success of homegrown startups goes to investors outside India. Staying in India and incorporating at home also saves the future hassle of paying huge taxes to flip back,” Nithin Kamath wrote on X (formerly Twitter). He added, “Also, the growing local pools of capital, ever-improving regulations, and the growth of IPO markets have made India a much more attractive destination than it ever was.”
Earlier, he had said that India needs to unlock its domestic capital for startups as the country must work towards reducing dependence on foreign capital so that Indians are encouraged to back startups at home.
The Zerodha boss had then said, “More Indians today than ever before are aspiring to be entrepreneurs thanks to government initiatives and messaging, the media coverage of the startup ecosystem, founder success stories, and more. The one thing we need to work on as a nation is to unlock domestic capital for startups/MSMEs. Reduce the dependence on foreign capital and get Indians to back Indian startups.”
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