Fintech firms should nudge people to back Indian entrepreneurs: Nithin Kamath
PremiumIf India has to become a $5 trillion economy and more, wealth creation from businesses doing well has to be local, the Zerodha founder and CEO further said.
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The goal of every Indian fintech firm focusing on savings and investing should be to nudge people to back Indian entrepreneurs and think long term, Nithin Kamath said in a tweet.
"If India has to become a $5 trillion economy and more, wealth creation from businesses doing well has to be local," the Zerodha founder and CEO further said.
Kamath, who is known for his educational tweets on business and stock markets, shared an interesting statistic that drew parallels between gold imports and foreign investment in startups.
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Over $400 billion went out of India to import gold vs $600 billion+ that came in through FPI, FDI & VC, Kamath said adding that instead of gold, some of that money was invested in Indian startups and listed companies, there could have been immense and inclusive local wealth creation.
