JPMorgan Chase & Co CEO Jamie Dimon lauded Prime Minister Narendra Modi, expressing that he has been doing an "unbelievable job" in India. Speaking at an event organized by the Economic Club of New York, Dimon praised the reforms initiated by the Modi government.
Jamie Dimon said, “Modi has done an unbelievable job in India… He has taken 400 million people out of poverty. We go lecture Modi about… he has 400 million people without toilets. We are lecturing them how to do things". "In India, 700 million people have opened bank accounts. The transferred payments are going through. “They (India) have got an unbelievable education system. Unbelievable infrastructure. They are lifting their whole country because this one man (PM Modi) is tough.”
In particular, Dimon applauded India's unified indirect tax system, attributing its success to the reduction of corruption stemming from diverse state tax structures. "I know the liberal press here, they beat the hell out of him. He’s taken 400 million people out of poverty,” remarked Dimon, highlighting Modi's significant impact on poverty alleviation.
Shifting focus to the United States, Dimon voiced apprehensions regarding national debt, inflation, and geopolitical tensions that could potentially impact the economy.