Harsh Goenka and Zerodha's Nithin Kamath offer different takes on 'Why Indians hate the rich' – Watch

A viral video featuring Zerodha CEO Nithin Kamath has sparked widespread discussion after he offered a candid response to the question, "Why do Indians hate rich people?" Kamath insightfully remarked, "We are a socialistic, pretending to be capitalistic society. At heart, we are all socialists." Now, adding an interesting twist to the conversation, Harsh Goenka, Chairperson of RPG Group, has shared a differentviewpoint, highlighting how Indians admire billionaires like Ratan Tata while harboring resentment toward others.

Nithin Kamath's view on 'Why Indians hate the rich'

The viral video of Zerodha CEO Nithin Kamath comes from a conversation at TechSparks 2024 in Bengaluru.?

During the discussion, YourStory founder Shradha Sharma posed a thought-provoking question, contrasting societal views on wealth in the U.S. and India.?

She observed that in the U.S., success—displayed through luxury purchases like cars or jets—is celebrated, whereas in India, people often react with skepticism, thinking, "Ismein kuch toh galat hoga" (there must be something wrong with how they earned it).

When asked why this mindset prevails in India, the 44-year-old Kamath was quick to point to the country's deep-rooted socialistic values, explaining that while India pretends to be a capitalistic society, it's still largely socialistic at its core—unlike the U.S., a "pure-bred capitalist society."?

Harsh Goenka's view on 'Why Indians hate the rich'

The 66-year-old Harsh Goenka, who has led RPG Group as Vice Chairperson since 1988, offers a different perspective to Kamath's views.?

Taking to X (formerly Twitter), Goenka remarked, "Indians celebrate good billionaires like Ratan Tata, Azim Premji, and Anand Mahindra—they're loved and emulated for their humility, philanthropy, and values."

According to him, India doesn't inherently hate the rich—at least, not all of them.

So, what is it about certain wealthy individuals that rubs people the wrong way? Goenka explains, "What we dislike are those who flaunt wealth, corrupt the system, and prioritize personal gain over societal good."

His point is clear: "Wealth isn't the issue—how it's used is!"

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