Nithin Kamath, co-founder and CEO of Zerodha, has achieved another milestone as he has been named one of the members of the National Start-up Advisory Council (NSAC). This new panel has been established by the government under the leadership of Narendra Modi.
On 18 December, the Centre revealed that Nithin Kamath was among the 31 fresh inductees to the council. Kamath himself shared this news on social media, discussing the increasing trend of the younger generation choosing to join startups.
Nithin Kamath wrote on X, "More Indians today than ever before are aspiring to be entrepreneurs thanks to government initiatives and messaging, the media coverage of the start-up ecosystem, founder success stories, and more. The one thing we need to work on as a nation is to unlock domestic capital for start-ups/MSMEs. Reduce the dependence on foreign capital and get Indians to back Indian start-ups."
The founder of Zerodha emphasised the potential need for innovative investment products or vehicles that can be utilised by accredited investors or those who are capable of assuming higher risks, specifically for investing in equity or debt in startups or MSMEs.
He asserted that the current appetite for investing in new products in India is unprecedented and this opportunity should not be missed. He also suggested that this approach could not only decrease dependency on external capital but also ensure that the wealth generated from startups remains within the country.
The NASC was established by the central government in January 2020. Its main goal is to assist the government in fostering a supportive environment that encourages the growth and innovation of startup companies.
The National Association of Software and Service Companies was established under the auspices of the Department for Promotion of Industry and Internal Trade (DPIIT), with Union Minister Piyush Goyal at its helm. Non-official members such as Kamath are appointed to the committee for a tenure of two years.
The startup council has incorporated other members such as Prof Amitabha Bandyopadhyay from IIT Kanpur, Karthik Reddy from the Indian Venture and Alternate Capital Association, Prof Yogesh Singh of the University of Delhi, and Nivruti Rai of Invest India. Additionally, presidents of numerous industry chambers have also joined the council.
Nishtha Anushree is Senior Sub-editor at Swarajya. She tweets at @nishthaanushree.
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