Zerodha's Nikhil Kamath: ‘India likely to be most expensive market in the world’

Nikhil Kamath also suggested caution while buying 'when things are expensive'. (Image credit: @nikhilkamathcio/Instagram)

Brokerage firm Zerodha co-founder Nikhil Kamath believes that the Indian market has a lot of potential in the long term especially after the stock market witnessed a stellar week with the BSE Sensex and Nifty50 rallying on an all-time high, extending gains for six straight weeks.

Commenting on the rising interest of retail investors in the market, Kamath told ET Now, “India is likely one of the most expensive in the world. It is very hard for anybody to predict timelines to 25,000 but I would suggest one should be cautious when things are expensive; do not buy too much."

He added that even though the cost of capital is high in the short term, it has a lot of potential in the long term. "But over a 10 to 20-year period, it looks good for India," Nikhil Kamath said.

Speaking in a similar vein, Zerodha CEO Nithin Kamath had earlier said that global investors know that India is the future which is why they are interested in investing in the country's businesses.

Commenting on what he termed a "dichotomy", Kamath wrote on X, "Most Americans I know with money want to invest in India because they believe they are plateauing as a nation and that we are the future. But somehow, young Indians are still bitten by the bug to travel to America to build their future."

The brothers recently also made headlines after earning Rs 72 crore each during the financial year ending March 2023, according to filings with the Ministry of Corporate Affairs. They are the highest-paid CEO and director of a startup firm this financial year.

Read more: Zerodha's Nikhil Kamath on funding woes for fintech firms: 'If you were in Bangalore...'