Trillion-Dollar Firms Similar To East India Company? Zerodha’s Nithin Kamath Draws Parallel

Zerodha co-founder Nithin Kamath reflected on a lesser-known aspect of colonial history, drawing attention to the vast territories that were once governed as part of British India. He pointed out how the East India Company gradually expanded its influence. Kamath used this example to illustrate how concentrated power in large entities can shape the course of nations.

In a post on X (formerly Twitter), Kamath wrote, “I didn’t realise that lands from Muscat and Oman, the UAE, all the way to Burma were once part of the British Indian Empire.”

Kamath added that he had always thought of partition only in the context of the subcontinent.

“I had always thought of India’s partition as only involving India, Pakistan, and Bangladesh,” he said. The 45-year-old went on to add that a couple of books he read shed light on how large parts of the Gulf and Southeast Asia were also once governed from Delhi.

Central to Kamath’s revelation was ‘Shattered Lands: Five Partitions and the Making of Modern Asia,’ a book by Sam Dalrymple. The book traces the dissolution of the Indian Empire, examining how one vast dominion gave way to 12 modern nations. It outlines the redrawing of borders in both boardrooms and battlefields, shaped by decisions of politicians in London, movements in Delhi, rulers in distant courts and soldiers on the frontlines.

Kamath also referenced another work, ‘The Anarchy: The Relentless Rise of the East India Company’ by William Dalrymple, Sam’s father. Calling it “still one of my favourites,” Kamath praised the book’s retelling of how a trading company transformed into a colonial power. “It tells the story of how the East India Company came to India to trade, became immensely wealthy, and, in their pursuit of more, became ruthless,” he said.

In drawing parallels with the present day, Kamath used history as a cautionary tale. “It makes me wonder: today, as trillion-dollar companies rise, what happens if they turn evil, too?” he asked, raising questions about the unchecked power of corporate giants in the modern economy.

Through this reflection on social media, Kamath highlighted a lesser-known part of colonial history. He pointed out that its legacy still shapes how we talk about power, governance and global commerce.