Billionaire Raamdeo Agrawal, a former champion of India's stock market surge, now cautions that the gains primarily enrich a small, privileged elite. Agrawal, co-founder of brokerage firm Zerodha, previously predicted the Nifty 50 index would triple within a decade. His current warning signals a significant shift, suggesting the benefits of India's economic growth are concentrated among a tiny fraction of the population. This development carries profound implications for market dynamics and policy, as it highlights systemic inequality that could undermine broader economic stability. Agrawal's critique underscores the risk that financial markets may exacerbate wealth disparities rather than distribute prosperity widely. His perspective demands attention from regulators and policymakers focused on inclusive growth strategies.