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Business News/ News / India/  JPMorgan CEO Jamie Dimon lauds PM Modi's leadership: ‘US officials are fantasizing how…’
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JPMorgan CEO Jamie Dimon lauds PM Modi's leadership: ‘US officials are fantasizing how…’

JPMorgan Chase & Co. CEO Jamie Dimon has lauded Prime Minister Narendra Modi's leadership in India, praising his proactive approach to challenges and bold reforms.

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., speaks during an Economic Club of New York (ECNY) event in New York, US, on Tuesday, April 23, 2024. Dimon met with executives from the World Bank Group and several other multilateral development lenders recently as they seek to pull more private money into initiatives across emerging markets. (Bloomberg)Premium
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., speaks during an Economic Club of New York (ECNY) event in New York, US, on Tuesday, April 23, 2024. Dimon met with executives from the World Bank Group and several other multilateral development lenders recently as they seek to pull more private money into initiatives across emerging markets. (Bloomberg)

JPMorgan Chase & Co. CEO Jamie Dimon has lauded Prime Minister Narendra Modi's leadership, praising his “proactive approach to challenges and bold reforms". 

Speaking at an event hosted by the Economic Club of New York, Dimon highlighted PM Modi's achievements, including the extensive recognition system, widespread banking access, and significant poverty reduction initiatives. 

Dimon said a lot of US government officials are “fantasizing... how we think they should be running their country". 

“Every citizen by hand or eyeball or by finger is recognised. They've bank account for 700 million people. Their transferred payments are going through," he said.

Commending India's education system and infrastructure, Jamie Dimon emphasized Modi's decisive actions in breaking bureaucratic barriers. 

India has an "unbelievable education system" and “unbelievable infrastructure", he said, adding how PM Modi is very “tough" as he broke traditional bureaucratic systems in the country.

“And we need a little bit more of that here," he added.

Additionally, Dimon praised India's streamlined tax system for curbing corruption and lifting millions out of poverty. 

He said, “I know the liberal press here, they beat the hell out of him. He’s taken 400 million people out of poverty."

Dimon underscored the need for better lender-regulator relations in the US and expressed his willingness to contribute to his country's economic well-being.

“I would like to see practitioners go back to the government," he said. On his name being floated for senior economic roles in the US government, he said, “I want to help my country."

"They have, I think its 29 states or something like that, but they all had completely- its almost like Europe that have completely different tax systems, which leads to enormous corruption. He's breaking all that stuff down. And so, there are examples of people who have just turned these things around. And we need a little bit more of that here," Dimon added.

Recently on April 16, the International Monetary fund had projected India to remain the fastest growing major economies in 2024. IMF, in its latest outlook, raised India's growth projections for 2024 from 6.5 per cent to 6.8 per cent.

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Published: 24 Apr 2024, 06:37 PM IST
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