NITHIN KAMATH'S NEW PASSION: BAMBOO

Nithin Kamath, Zerodha's founder and one of India's youngest billionaires, has a new interest area beyond stock markets and investing: bamboo. Kamath's interest in bamboo was piqued when he discovered its remarkable strength during a meeting with Agni Mitra from Amwoodo, an organization dedicated to bamboo technology and sustainability. While bamboo may not replace steel entirely, its superior tensile strength presents opportunities to reduce steel usage in various applications, Kamath said in a social media post. Moreover, bamboo's ability to thrive in diverse conditions could address India's land degradation issues, providing income opportunities for landowners through bamboo cultivation, he added.

Nithin Kamath, the 44-year-old founder and CEO of Zerodha, ranks as the fourth-youngest Indian billionaire on this year's Forbes list, with an estimated wealth of $4.8 billion. His brother, Nikhil Kamath, aged 37, holds the title of the youngest Indian billionaire, with a fortune estimated at $3.1 billion by Forbes.

Although Nithin Kamath has transitioned away from active trading, he maintains a keen interest in trading and capital markets, as stated on his personal website. In addition to his role at Zerodha, Kamath contributes to the startup ecosystem through the Rainmatter fintech fund and established the Rainmatter Foundation to support social causes.

Besides that India's heavy reliance on bamboo imports from countries like China and Vietnam prompted Kamath to support Amwoodo's mission to harness bamboo's potential domestically. By collaborating with farmers and artisans, Amwoodo aims to source bamboo sustainably while restoring barren lands across Northeast India and West Bengal.

Amwoodo's focus on bamboo aligns with Kamath's vision of combating plastic pollution. Bamboo's biodegradability and rapid growth make it an ideal alternative to plastic, addressing environmental concerns while empowering local communities, he said.

Agni Mitra, the founder of Amwoodo, stresses the organization's commitment to creating social impact through sustainable initiatives. By offering eco-friendly products and collaborating with farmers and artisans across India, Amwoodo strives to divert plastic waste from landfills, afforest land, and uplift livelihoods.

Through its partnership with Rainmatter Climate, Amwoodo aims to accelerate its journey toward climate change mitigation and plastic pollution reduction.