CEO Jamie Dimon hailed Prime Minister Narendra Modi

PM Modi steered India's economy towards growth and stability

Jamie lauded India's implementation of a unified indirect tax system

Reportedly, during an address at the Economic Club of New York, JPMorgan Chase & Co CEO Jamie Dimon hailed Indian Prime Minister Narendra Modi for his commendable efforts in steering India’s economy towards growth and stability. Dimon lauded Modi’s administration for its proactive measures in combating inflation and alleviating poverty, dubbing his performance as “unbelievable.”

Dimon underscored the significance of the reforms initiated by the Modi government, particularly highlighting advancements in technology and finance. He pointed out the widespread adoption of digital identification and banking services, which have empowered over 700 million Indian citizens with access to financial resources.

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Furthermore, Dimon commended India’s robust education system and infrastructure, characterizing them as “unbelievable” achievements. He applauded Modi’s resilience in challenging outdated bureaucratic structures, emphasizing the necessity for a similar approach in the United States.

The CEO specifically lauded India’s implementation of a unified indirect tax system, which he believed effectively curbed corruption stemming from disparate state tax frameworks. Dimon countered criticisms against Modi’s leadership, citing statistics indicating significant strides in poverty reduction under his tenure.

In addition to economic issues, Dimon touched upon broader policy matters such as military strength, political polarization, and America’s comparative economic performance. He advocated for increased involvement of industry practitioners in government affairs to navigate these complex challenges effectively.