Uday Kotak, founder of Kotak Mahindra Bank, has strongly urged Indian companies to reduce their reliance on foreign funds and instead build a strong domestic capital base. Speaking at a CII event, he said India must not depend on somebody else’s money or power if it wants to be truly self-reliant.
Kotak explained that India has “financialised too early,” with companies chasing quarterly earnings, stock prices, and employee stock option gains rather than focusing on long-term growth. He advised businesses to reinvest profits into expansion instead of keeping large treasury portfolios. He stressed that companies enjoy favourable tax rates but must channel those benefits into fresh investments that strengthen the economy.
He highlighted the growing role of mutual funds and retail investors, which now provide dependable domestic risk capital worth