Zerodha CEO Nithin Kamath downplays Mukesh Ambani's this company, says real competition is going to be…
In a post on social media platform 'X', Kamath acknowledged the JV's potential to expand retail market participation due to its vast distribution network but also stated that Zerodha remains committed to profitability and a customer-first approach. Zerodha's Nithin Kamath On Jio-BlackRock
Nithin Kamath via his post on 'X' expressed optimism regarding the same. He said, 'Many people asked me about Jio-BlackRock getting a stockbroking license. Firstly, this is great news.'
Kamath further added that, 'If anyone can expand the markets beyond the top 10 crore Indians, it's probably Jio with all its distribution might.'
However, he also raised concerns about the expansion of the Indian stock market. 'The biggest issue for the Indian markets is a lack of breadth in participation. We're largely limited to the top 10 crore Indians,' he said.
Kamath also shared his opinion on what his thoughts are on broking. He believes that Zerodha is not something which is following 'vanity metrics' and the principle online brokerage platform is to 'stay to stay profitable.'
'At the heart of our philosophy is to always do the right thing for customers,' Nithin Kamath said. Nithin Kamath On Zerodha's strategy
Kamath also emphasised that Zerodha's strategy is not to pressure consumers to trade and to make sure that there are no obtrusive notifications, dark patterns, etc., adding that customers who trade less have a better chance of long-term success.
'And yeah, I still feel our real competition is going to be more from first-generation founders who are running, breathing, and always thinking about broking. I somehow don't feel it will really come from incumbents. This is not a business where having deep pockets means you have a large moat,' said Nithin Kamath.
(With Inputs From ANI)
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