JP Morgan CEO praises PM Modi

Jamie Dimon said PM Modi has done an incredible job in India

New Delhi:

The CEO of JP Morgan Chase praised Prime Minister Narendra Modi for his “incredible work”.

Speaking at an event organized by the Economic Club of New York on Tuesday, Jamie Dimon hailed the economic reforms implemented by the Narendra Modi government and said some of them could also be introduced in the states -United.

“Prime Minister Modi has done an incredible job in India. I know the liberal press here, they gave him a hard time when he lifted 400 million people out of poverty,” Dimon said.

Many U.S. government officials in India “fantasize about how we think they should run their country,” Dimon said.

The video of the event was shared on X – earlier known as Twitter – by Union Minister Piyush Goyal.

Modi has done an incredible job in India: Jamie Dimon, CEO of JPMorgan Chase & Co. pic.twitter.com/hGFsDL7m0C

Piyush Goyal ( ) (@PiyushGoyal) April 24, 2024

The top banker called Prime Minister Modi a “tough” administrator for breaking the country's outdated bureaucratic systems. “We need a little more of that here (in the United States),” he said.

The global banking giant's CEO also said the country has an “incredible education system” and “incredible infrastructure.”

Dimon also praised the country's indirect tax regime which he said has eliminated corruption by eliminating disparities between different states' tax systems.

“They have, I think, 29 states or something like that, but they all have it completely. It's almost like Europe which has completely different tax systems, which leads to enormous corruption. It's in destroying all of that,” he said.

“Every citizen is recognized by hand, eye or finger. They have bank accounts for 700 million people. Transferred payments are underway,” he said.

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