Nitin Kamath in a tweet said that every Indian fintech firm focusing on savings and investment should aim to inspire people to support Indian entrepreneurs and think long term.
The founder and CEO of Zerodha further added, “If India is to become a $5 trillion and above economy, wealth creation from well performing businesses has to be local.”
Kamath, who is known for his educational tweets on business and stock markets, shared an interesting statistic that shows similarities between gold imports and foreign investment in startups.
More than $400 billion went to India to import gold, with more than $600 billion that came through FPIs, FDI and VCs, Kamat said, adding that instead of gold, some of that money was used by Indian startups and listed companies. Had it been invested in, there could have been a lot more and inclusive local wealth creation.
Don’t miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,