Opportunity is here: Zerodha's Nikhil Kamath encourages US grad to build business in India

Nikhil Kamath, co-founder of Zerodha, on Thursday, lauded India's economic growth and called the country a place of opportunity for those who graduated from "fancy colleges" in the United States and are considering moving back home and starting a business.

"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," the Zerodha founder said in a tweet. 

'Opportunity is here': Zerodha Co-founder Nikhil Kamath

To back his claim that the "opportunity is here" in India, Kamath cited the data from Bloomberg. According to the Bloomberg graphic-- 'Recession Probabilities Worldwide 2023', India is at zero risk of getting hit by a recession in 2023. The graphic states that the country has zero per cent 'recession probability' for 2023.

On the other hand, the Bloomberg graphic shows a high probability of recession in some Western countries as well as in emerging economies. The 'recession probability' for the UK is 75%, New Zealand is 70%, the US (65%), Germany, Italy and Canada (60%), France (50 %), South Africa (45%), Australia (40%), Russia (37.5 %), Japan (35%), South Korea (30%), South Korea (30%), Mexico (27.5%), Spain (25%), Switzerland (20 %), Brazil (15%), China (12.5%), Saudi Arabia (5%) and Indonesia (2%).

Kamath also cited International Monetary Fund's data about real GDP for the year 2023. In the IMF graphic--'World Output Project 2023', shared by Kamath, India topped the chart with a projection of 5.9% real GDP growth, ahead of China (5.2%), Indonesia (5%), Saudi Arabia (3.1%), Australia and the US (1.6%), South Korea, Canada and Spain (1.5%). According to the graphic, several of the European countries projected annual growth would be less than 1, with Germany and the UK in negative.

It is pertinent to mention that earlier on Tuesday, IMF division chief Daniel Leigh, termed India a "very strong economy", stating that the country is one of the bright spots in the global economy in the current period.