Zerodha appears to be broadening its reach. India’s largest stockbroker by revenue plans to offer investments in the U.S. stock market by next quarter, founder and CEO Nithin Kamath said.
“A lot of people tagged me on social media and asked about the U.S. investing thing. We are working on it, and we should have something in the next quarter. It is a product launch,” Kamath said in an Ask Me Anything session with Zerodha founders and top management on YouTube.
The Bengaluru-based discount broker has, so far, shied away from the U.S. investment product, even as multiple brokerages such as Angel One, INDmoney, JM Financial, Axis Direct, HDFC Securities, Kuvera and 5paisa offer the facility.
“It has been a long-pending thing. We now have the requisite regulatory clarity through GIFT City. We are trying to build a simple and seamless experience for users in the backend as well as in the frontend,” Zerodha CTO Kailash Nadh said, adding the company has worked on a whole series of technology and product “things.”
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Zerodha, is leveraging GIFT City to offer expanded investment opportunities, particularly for Non-Resident Indians (NRIs). Through GIFT City’s International Financial Services Centre (IFSC), Zerodha plans to enable direct trading in U.S. stocks by early 2026, providing investors seamless access to global markets in freely convertible foreign currencies. Additionally, Kamath launched True Beacon Global, the first Alternative Investment Fund (AIF) in GIFT City, targeting an initial corpus of $100 million.
These initiatives offer significant tax advantages, such as exemptions on derivatives trading profits and reduced taxes on interest income, making them attractive for NRIs. GIFT City’s regulatory framework, currency flexibility, and infrastructure allow Zerodha to provide a modern, efficient platform for cross-border investments. While account setup and KYC compliance may pose challenges, these offerings position Zerodha and GIFT City as strategic enablers of global investment access, highlighting India’s growing role as a hub for international financial services.
The development comes as Zerodha’s topline and net profit declined for the first time in more than a decade. Its FY25 revenue and profits fell 15 percent in FY25 after multiple regulatory changes, including the futures and options (F&O) trading rules, hit the business.
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By enabling direct U.S. stock trading, the company is tapping into global investment opportunities, particularly for Non-Resident Indians (NRIs), leveraging GIFT City’s regulatory clarity, tax incentives, and currency flexibility.
This expansion diversifies Zerodha’s revenue streams, reducing reliance on domestic trading volumes, which have recently been affected by regulatory changes and a decline in FY25 revenue and profits.
While operational challenges such as account setup and KYC compliance remain, the initiatives position Zerodha to compete with other brokerages offering international investment products.
By diversifying into international markets and targeting NRIs, Zerodha is reducing its dependence on domestic trading volumes and creating new growth avenues. This strategic pivot also demonstrates the company’s agility in responding to market challenges and regulatory shifts, while leveraging technology and GIFT City’s infrastructure to offer a streamlined investment experience.
If successful, these initiatives could strengthen Zerodha’s competitive position against other Indian brokerages already offering global investment options, enhance its brand as an innovative, client-focused platform, and reinforce India’s credibility as a hub for cross-border financial services.