‘India-US are natural partners amid global challenges,’ says JP Morgan Chase CEO Jamie Dimon: Report

JPMorgan Chase CEO Jamie Dimon said that India and America are natural partners amid global challenges.

Speaking to CNBC-TV18, Dimon said that India and the United States are emerging as natural partners amid the global changes.

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He pointed out that India and the United States have a distinct and special relationship, and they should take advantage of the opportunity to enhance their economic connections even more.

“India and America are natural partners. Between Russia and China, you have to be kind of non-aligned, but we are your best friend. I mean, anyone who doesn't think that through hasn't thought really carefully,” Dimon told CNBC-TV18.

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Dimon acknowledged that India's initiatives aimed at simplifying processes, including the Aadhaar system for financial inclusion, tax reforms, and the encouragement of foreign direct investment, have played a role in boosting investor confidence.

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He urged political leaders to participate in productive dialogues, adapting to the changing global scenario, and fostering trade and investment partnerships that are mutually advantageous.

Dimon highlighted that India's efforts to streamline various procedures, including the implementation of the Aadhaar system for financial inclusion, simplifying taxation, and actively encouraging foreign direct investment, have played a role in fostering positive sentiment among investors.

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"PM Modi has been doing a very good job and things like Aadhaar, to get a bank account for several thousand people, simplifying taxes, trying to open up more for foreign direct investment to National Infrastructure Program. The universe is here, and we are not the only bank here, there are large other banks with a lot of people, but so is Accenture, McKinsey and obviously you have your local Tata, etc, so those things are driving optimism. And it's not just because of the complications with China, I think that's an opportunity but some of this optimism would have been there anyway," Dimon said to CNBC-TV 18.