Zerodha co-founder and billionaire Nikhil Kamath on Thursday had a message for entrepreneurs who have graduated from elite colleges in the US and have been considering returning to India to start their own businesses.
Taking to Twitter, Kamath wrote, "To my many friends who have graduated from fancy colleges in the US, working there, considering moving back home to start something. All indications point to India being 'the place' to be this decade; from a relative standpoint, for an entrepreneur, the opportunity is here..."
Kamath also cited data from Bloomberg according to which, the US has a 65 percent chance of experiencing recession while India does not have a chance of facing it at all.
Another piece of information that Nikhil Kamath shared was from IMf's World Economic Outlook, according to which, India topped the chart on world output projection for 2023. The US, meanwhile, ranked at 7.
Kamath's tweet received mixed reactions from Twitter users.
"India will outperform all the major developed economies this decade by a huge margin and will be one of the fastest growing developing economies. I am amazed why a lot of people leaving India to find opportunities outside," wrote Tejas Bansal (@tejasbansal2002).
Another Twitter user Vivek Joshi (@mejoshivivek) said, "A simple advice I've been giving to all my friends for the past few years: If you want to be in a job, prefer outside India. If you want to be in business, prefer India."
But many others shared that since India lacked access to many basic facilities and business-friendly policies, it's a tough call for Indians settled in the West to return to the country and set up their own businesses.
"While I agree with this, but ppl are not moving out just for career opportunities," wrote Twitter user Abhi (@sabhijeet21). "They are moving out for the lifestyle, the surrounding, the environment. These things are hardly going to improve to the level of the US."
Vijay Naik (@vijaynaik90) commented, "People move to the US for many reasons like the quality of life, low pollution, less job stress compared to India, etc. Being in the US right now I know there are good opportunities for me with good salaries in India but that's not the only factor that would make me move back to India."
"What will they do here?" asked Keeninvestor (@Keeninvestor1). "India is not a place for entrepreneurs..truck loads of kids will come out of college in the next few years who are ready to replace old and we don't have any prospects especially those who do not have a technical background."
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