nbt interview with nithin kamath, stable government, biggest democracy, growing GDP and biggest youth population… next 10 years will be great for the country: nithin kamath – exclusive interview with ceo of zerodha nithin kamath
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I did not have a business background, nor was I good enough in studies to pursue higher studies. With the burden of expectations reduced, I started doing the work of my choice. From 1999 I started doing stock trading. Zerodha started in 2010. The most important thing is to do something around the work you love. For the best in my case, I discovered what my interests were when I was a teenager. Right time, right people and own experience create destiny. In this journey I never felt that the cut throat competition that is talked about in MBA schools is needed. It is better that everyone gets a chance to work in a democratic environment, then this power makes business successful. Human capital is everything for me.
How do you see India’s growth story in the next ten years? By how much will the participation of retail investors increase in this?
India’s performance is very good compared to the rest of the world. Things like stable government, largest democracy, growing GDP, largest youth population, access to internet, digital initiatives are telling that India will do better than rest of the world in next five-ten years. The market participation of the retail investor will increase through Mutual Fund SIP.
Given India’s growth story, the number of retail investors is still very less. why the hell?
The big problem is that India is still a poor country. If we are in metro cities then it seems that we are rich, but we are not. The progress of only 1% of the population does not mean the progress of the country. Still, the monthly income of most families is Rs 20,000-30,000. Should a person eat or invest in it? The solution to this problem is that there should be inclusive growth of the country. We have to take everyone forward, so that everyone gets opportunities to work and make money. When 15-20 crore people file income tax in a population of 150 crores, then investment will increase with per capita income. Investors also have to give time and people like us have to keep full focus on risk management.
Will Artificial Intelligence (AI) take away jobs?
We have developed an internal AI policy to clarify the risk of job losses due to AI to our team. We have adopted a new technology, but it does not mean that employees are going to be laid off. But in 5-10 years, when jobs will be hit due to AI, you have to be prepared for that.
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What do you have to say about financial influencers? SEBI has expressed concern over this.
They are very powerful. But only as long as they are limited to education and awareness. The difficulty arises when they start making claims of making quick money. In such a situation, the public comes under their influence and takes wrong decisions. People have to understand that trading and investing are different things. Investing is right for 99 percent of the people.
How is the future of the stock market going to be expected?
No one can predict how the market will be in the future. Right now India is at advantage, but if the interest rates in America remain high, then the availability of capital will reduce and its bad consequences will be visible on the Indian market as well. When the stock market all over the world falls, it will be difficult for the Indian market to stay strong. The reason for this is that India’s economy is linked to the global economy.
Here in India, 18 countries have opened trade accounts in rupees. What would you say about the popularity of Indian currency?
Right now there is good opportunity for Indian currency and it is also becoming popular. Yes, the dollar will continue to dominate as the preferred currency, because everyone trusts the dollar and everyone wants the dollar.
What innovations can happen next in the Indian fintech industry?
Fintech has a huge scope. More innovation has happened in the lending business now. There are many opportunities in saving-investment, insurance. Yes, the advisory business has not yet taken off in India. The biggest opportunity for fintech lies in the advisory business, as it helps people make the right decisions.
What does happiness mean to you?
If you are not doing what you love in life, then you find happiness in spending money. It often happens that along with the arrival of money, the lifestyle also changes. Your car, house everything changes. I feel my life has not changed in the last 4-5 years because there is excitement all the time. Eager to learn and solve a problem. The real happiness is to always be curious. To make life meaningful, it is necessary to feel life.
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