Jamie Dimon, CEO of global banking giant JP Morgan Chase, commended Prime Minister Narendra Modi for his efforts in uplifting 400 million people out of poverty in India. Speaking at an event hosted by the Economic Club of New York, Dimon praised the economic reforms initiated by the Modi government, suggesting that some could be adopted in the US.
Dimon applauded Modi’s resilience in challenging outdated bureaucratic systems, labeling him as “tough.” He acknowledged the criticism faced by Modi from the liberal press while acknowledging his significant achievement in poverty alleviation.
Referring to Modi as a “tough” administrator, Dimon highlighted the Prime Minister’s efforts in dismantling outdated bureaucratic structures in India, suggesting the need for similar action in the US.
Dimon also commended India’s Goods and Services Tax (GST) regime for reducing corruption stemming from disparate tax systems across states. He acknowledged India’s progress in technology and finance, particularly the widespread adoption of digital identification and banking services, with over 700 million citizens having bank accounts.
Highlighting India’s achievements in education and infrastructure, Dimon described them as “unbelievable,” emphasizing the country’s advancements in various sectors.
