Zerodha CEO Nithin Kamath has pitched the idea of having Bengaluru’s own ‘Dalal street’ as the tech capital has become a key area for retail stock trades in the country. Nithin’s pitch for Bengaluru’s Dalal street has sparked a discussion on social media.
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In X, Nithin wrote, “Bengaluru maybe needs a ‘Dalal Street’ as well. Symbolism to indicate that over 50% of all retail trades in India, in a way, originate from Bengaluru, either from brokers or their tech teams based out of here.”
Nithin also reminisced about the beginning days of Zerodha and said that the decision was questioned by many, based on the location of the stock brokerage firm’s headquarters. “13 years ago, when we were first starting, the first question asked by many was, who starts a brokerage firm in Bengaluru?” the Zerodha CEO further wrote.
{{/usCountry}}Nithin also reminisced about the beginning days of Zerodha and said that the decision was questioned by many, based on the location of the stock brokerage firm’s headquarters. “13 years ago, when we were first starting, the first question asked by many was, who starts a brokerage firm in Bengaluru?” the Zerodha CEO further wrote.
{{/usCountry}}The X post has sparked a discussion on social media and many people agreed with Nithin Kamath. A user named Anshuman Dewan wrote, “From tech hubs to trading hubs, Bengaluru's evolution is a testament to the city's prowess in finance and technology. It's time for a 'Dalal Street' of its own!”
Another user named Vivek Joshi disagreed and wrote, “Shouldn't go just with the number of orders. We should look at the quantum of capital invested. Most money in capital markets is parked by Mumbaikars, Gujaratis & Marwaris. No offense. Just facts. Respect for my investing friends from the southern part of India.”