PremiumBrokerage firm Zerodha's CEO Nithin Kamath said that for the country to become wealthy inclusively, the wealth creation from successful business has to happen in India.
"Happy to see many companies building for India incorporated outside, flipping back. While some are for regulatory reasons, but mostly for conducive IPO markets here. For India to become wealthy inclusively, wealth creation from successful businesses has to happen at home," he tweeted.
Zerodha CEO Nithin Kamath further added that for the country to become a $5 trillion economy, the wealth that has been created has to stay back ‘at home’. He said that the rules and regulations have to help the companies incorporated in the country.
“If wealth created by leveraging Indian resources doesn't stay back home, how will we ever be a $5 trillion economy & more? Hoping India can do whatever it takes to be attractive for companies to incorporate here—from the ease of running a business to raising capital to go IPO," he added.
Recently, Zerodha co-founders (and brothers) – Nithin Kamath and Nikhil Kamath – have increased their donation by 300% to ₹100 crore in FY 2021-2022, making them the ninth-largest individual givers in India, the EdelGive Hurun India Philanthropy List 2022 revealed on Thursday.
The Kamath brothers have pledged a quarter of their wealth to philanthropy and have plans to give back ₹750 crore over the next three years, the statement read.
Meanwhile, 36-year- old Nikhil Kamath is also the youngest philanthropist in the Edelgive Hurun India Philanthropy List 2022.