India (Commonwealth Union)_ Jamie Dimon, the CEO of JP Morgan Chase, lauded Prime Minister Narendra Modi’s governance, praising his remarkable achievements during an event hosted by the Economic Club of New York. Accordingly, Dimon expressed admiration for India’s economic reforms under Modi’s leadership, suggesting that certain aspects of these reforms could serve as models for the United States. Speaking on global financial trends, Dimon provided insights into managing economic and geopolitical risks.
Also read: Kachchatheevu row ahead of India’s elections
Union Minister Piyush Goyal shared the video of Dimon’s remarks on X, where the JPMorgan Chase CEO praised India’s robust education system, impressive infrastructure, and initiatives like the ‘Swachh Bharat Abhiyan’ aimed at achieving universal sanitation coverage. Additionally, Dimon applauded India’s strides in financial inclusion, citing the opening of bank accounts for approximately 700 million people as a significant achievement. He commended the country’s streamlined indirect tax system, which has curbed corruption by harmonizing tax regulations across states. Dimon highlighted the efficacy of India’s biometric identification system and the widespread access to banking services, acknowledging the nation’s progress in these areas.
Also read: What BJP manifesto has in store for the middle class?
Known for his keen observations on global affairs, Dimon commended Modi’s efforts in lifting 400 million individuals out of poverty and initiating significant infrastructure and bureaucratic reforms. He stated, “PM Modi has done an unbelievable job in India. I know the liberal Press here, they beat the hell out of him when he’s taken 400 million people out of poverty”. He highlighted the substantial progress India has made under Modi’s leadership, contrasting it with the scrutiny the Prime Minister faces from the liberal press in India. Dimon also noted the inclination of some US officials to prescribe how India should govern itself.
Referring to Modi as a resolute leader, Dimon characterized him as a proponent of dismantling outdated bureaucratic structures. He suggested that the United States could benefit from similar reforms, saying, “We need a little bit more of that here (in the US)”. Furthermore, Dimon’s remarks coincide with the International Monetary Fund’s latest projection, affirming India’s status as the fastest-growing major economy in 2024. The IMF revised India’s growth forecast for 2024 upward from 6.5 percent to 6.8 percent, reflecting confidence in the country’s economic trajectory under Modi’s governance.
