It is high time, Indian investors must take the lead over Foreign Investors, says Zerodha CEO
Nithin Kamath, CEO, Zerodha and member of the National Startup Advisory Council underscored that much of the success of homegrown startups goes to investors outside India and also advised the union government to generate the wealth for Indian startup ecosystem to grow inclusively.
The Zerodha boss Nithin Kamath had joined the National Startup Advisory Council last year to direct the Union government on the measures & guidelines required to erect a well-built fertile ground for developing innovation and startups in the nation.
On this regard, Kamath wrote on his X post, "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,”
"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”, he added.
Commenting on the evolutionary growth of Indian startup ecosystem, Nithin Kamath stated, "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.
