JPMorgan Chase CEO Jamie Dimon. Reuters
Calling India America’s ‘best friend’, Chairman & CEO of JPMorgan Chase Jamie Dimon said that the partnership between the two nations is solidifying as “global dynamics undergo significant changes.”
In an interview with CNBC-TV18, Dimon hailed Prime Minister Narendra Modi’s policies aimed at simplifying India’s economic landscape and highlighted the country’s growing economic potential.
Dimon is on his first visit to India since the pandemic. “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,” he said.
He added that leaders from both countries should engage in constructive dialogues in order to adapt to the evolving global landscape and create mutually beneficial trade and investment relationships.
Dimon noted, “I’m hoping that political leaders sit down, have these conversations and make these changes in a way that’s not completely disruptive but is dwarfed by the risk of war and nuclear proliferation, things like that. So I think we have to be very cautious about it. But it’s an opportunity for India, and hopefully, you’re going to seize it.”
The JPMorgan Chase CEO also highlighted India’s efforts to streamline processes by introducing the Aadhaar system for financial inclusion, tax simplification, and the promotion of foreign direct investment.
“Prime Minister 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, we’re 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,” he told CNBC-TV18.
Published on: September 26, 2023 10:58:01 IST
