Zerodha founder Nikhil Kamath came under fire from Kerala Congress for not questioning Prime Minister Narendra Modi about 'falling consumption in India'.
Attacking the Kamath for not asking the considerable tough questions regarding the state of the Indian economy, the Kerala unit of the Congress party shared an old clip of a podcast in which he said that "consumption in India is falling very quickly."
In the clip, business news journalist Sonia Shenoy asks him about a news article that claimed that he invests 50% of his money in equities, 40% in debt, and the rest in gold.
Zerodha founder Nikhil Kamath (@nikhilkamathcio) in a podcast with Sonia Shenoy (@_soniashenoy) on 26 Sept 2023 said that “Consumption in India is falling very quickly”.
— Congress Kerala (@INCKerala) January 14, 2025
Therefore he brought down his equity holding by nearly 14%.
Sensex was 65,945 then. We all expected him to… pic.twitter.com/CYE6Trxofy
Nikhil confirms the news article, saying equity has come down 7-10% due to quickly falling consumption in India.
Attacking Zerodha founder, the Kerala Congress said, "Sensex was 65,945 then. We all expected him to ask this question to PM Modi in his podcast. Surprisingly he didn't or he couldn't."
Last week, PM Modi, in his first podcast, interacted with Nikhil Kamath about various topics. During the conversation, PM Modi opened up about his childhood and his life experiences, and highlighted his roots in the small town of Vadnagar in Mehsana district, North Gujarat.
During the podcast, when the PM was asked about how young politicians must tackle the trolls and unwanted criticisms in public life, he emphasized the need for sensitive individuals in politics who find joy in helping others. He remarked that in a democracy, one must accept accusations and counter-accusations, but if one is right and has done no wrong, there is no need to worry.