Why do Indians hate the wealthy? Zerodha's Nithin Kamath explains
What's the story
Zerodha's co-founder, Nithin Kamath, has been pretty vocal about his views on how some folks in India seem to have a negative vibe toward the rich and entrepreneurs. In a recent chat with Shradha Sharma, the founder of YourStory, he pointed the finger at India's socialist mindset and the huge economic gaps. Kamath believes these issues have brewed a culture that not only puts a damper on entrepreneurship, but also stirs up resentment against wealthy people.
Societal comparison
Kamath compares India's attitudes with the US
In the chat, Sharma pointed out that in the US, people who get super rich and splurge on things like fancy cars or private jets are usually hailed as heroes. But here in India, it's a whole different ballgame; people often judge those who flaunt their wealth. Kamath chimed in with, "The US is a purebred capitalistic society. We are a socialist-pretending-to-be-capitalistic society."
Wealth disparity
Views on wealth inequality and societal change
Kamath seemed doubtful about any change in how people feel about this issue. He said, "I don't see how it changes. Because as long as there's going to be as much inequality in terms of wealth, I don't see anything changing." His words highlight his belief that ongoing wealth gaps might keep the resentment toward the rich alive in India.
Online reaction
Kamath's comments spark debate
Kamath's comments on how society treats the rich stirred up quite a debate on Instagram. One user remarked, "Indians wear poverty as a badge of honor," while another vented, "Because in India, the rich become richer by avoiding taxes, engaging in fraud, and exploiting the poor and middle classes." A third user noted that even in the US, there are problems with ultra-wealthy individuals.