Zerodha CEO Nithin Kamath is excited that many in India are aspiring to become entrepreneurs now. With more and more people building for India, India, the country will be on the way to becoming a $5 trillion+, Kamath said in reference to Prime Minister Narendra Modi’s target of making India a $5 trillion economy by 2024-25.
Kamath expressed that being an entrepreneur is becoming more aspirational amid the huge success of start-ups in the country. Currently, India has about 105 unicorns (start-up companies valued at over $1 billion).
“The silver lining of the startup world's excesses is that, for the first time in India, there are so many aspiring to be entrepreneurs. Almost like how people want IIT, IIM, Civil Services, etc. More people building for India, in India is the only way we can get to $5 trillion+,”
Kamath wrote on LinkedIn.
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Kamath had earlier emphasised that despite the start-up boom making it seem easy to build a business, it is actually a tough job to do. Creating a business with a positive cash flow can only be considered a success, according to Kamath.
“Today entrepreneurs are almost looked at like heroes and everyone wants to be on the other side, it’s important to realise that the other side is really hard,” Kamath recently said in an interview with Moneycontrol.
Experts, however, have warned about a funding crunch which can slow down the expansion of start-ups. Indian start-ups must focus on surviving the next 12-18 months as the funding crunch will hit home in early 2023, Flipkart group CEO Kalyan Krishnamurthy said last week during a panel discussion at The Economic Times Start-up Awards.
Venture funding has been hit hard across stages in India and around the world due to several global factors. As per Venture Intelligence, start-ups saw funding of $2.7 billion in the September quarter this year, as against close to $12 billion in the same period last year, Economic Times reported.
(Edited by : Sudarsanan Mani)
First Published: Nov 26, 2022 11:55 AM IST
