India is addicted to gold

11 Jan 2022

Over $400billion went out of India to import gold vs $600 billion+ that came in through FPI, FDI & VC. Imagine, instead of gold, some of that money was invested in Indian startups & listed companies. There could’ve been immense and inclusive local wealth creation.

I think the goal of every Indian fintech firm focusing on savings and investing should be to nudge people to back Indian entrepreneurs and think long term. If India has to become a $5 trillion economy and more, wealth creation from businesses doing well has to be local.

View on Twitter →