Nikhil Kamath, the co‑founder of Zerodha, told NDTV on May 28, 2024 that Indian chief ministers should run their states like CEOs, inspired by China’s provincial competition.
During the NDTV World Summit, Kamath highlighted the scarcity of risk capital in India compared to the United States and China. He argued that without a comparable pool of venture funding, Indian firms will struggle to compete in frontier sectors such as artificial intelligence.
He pointed out that setting up a data center in India costs 30‑40% less than in the West, citing lower labor and power expenses. “The same technician who earns $300,000 in the U.S. earns a fraction of that in India,” he said, underscoring the cost advantage.
Kamath emphasized that Chinese provinces compete like private firms, each led by a mayor who acts as a CEO. “If Indian states could adopt a similar competitive spirit, the nation could spur innovation at a regional level,” he suggested. He called for a framework that lets chief ministers benchmark performance and attract investments.
Kamath, who left school after the ninth grade, built Zerodha into India’s largest discount broker and has invested in companies such as Licious, Nourish You, Pee Safe, Subko, and Ather. He also pledged to donate at least half of his wealth to charity under the Giving Pledge.
The government is expected to release a policy brief next month outlining incentives for risk capital and state‑level competition, with the aim of establishing a multi‑billion‑dollar tech ecosystem.