Zerodha’s Nikhil Kamath believes that India is ‘the place to be’ for entrepreneurs looking to set up a business and that many of his friends who’ve lived most of their lives in the United States are looking to move back to the country.
What Happened? In a tweet, Kamath shares a couple of infographics on India’s macro indicators to make his case as to why he believes India offers better prospects for entrepreneurs.
The first infographic in the Zerodha co-founder’s tweet points towards Bloomberg data which shows that India has the lowest recession possibility among global economies. The data chart which denotes probability in percentage reveals how the United Kingdom and U.S. economies currently run a 75% and 65% chance of a recession, while India’s percentage chance is down to a minimum of 0%.
The second infographic cites IMF’s World Economic Outlook data to collate GDP growth forecasts for major economies. Here, India tops the chart again with a growth projection of 5.9%, whereas the U.S. and the U.K. languish at 1.6% and -0.3% respectively.
See also: India's E-Commerce Logistics Industry Set To Hit 10 Billion Shipments By 2028: What's Driving Growth
The IMF recently said that while central banks have raised rates across most advanced economies, and food and energy prices have declined, underlying price pressures are sticky and labour markets in many economies remain tight — all pointing towards much slower economic growth rates.
“All indications point to India being ‘the place’ to be this decade; from a relative standpoint, for an entrepreneur, the opportunity is here,” remarks Kamath in his tweet.
Read next: IMF’s Gita Gopinath Says Talked ‘Crypto Related Challenges’ With Nirmala Sitharaman
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.