JPMorgan CEO applauds PM Modi’s remarkable work in India

New York: Jamie Dimon, CEO of JPMorgan Chase & Co., has lauded Prime Minister Narendra Modi for his remarkable efforts in India, describing his performance as “unbelievable.” Dimon praised Modi for lifting 400 million people out of poverty, despite facing criticism from the liberal media in the US.

Speaking at an event hosted by the Economic Club of New York, Dimon commended the Modi government’s extensive reform initiatives and praised India’s impressive infrastructure and educational system.

“PM Modi has done an unbelievable job in India. I know the liberal press here, they beat the hell out of him when he’s taken 400 million people out of poverty,” Dimon said.

He further highlighted Modi’s resilience and his efforts to streamline India’s bureaucratic processes, suggesting that the US could benefit from similar decisive leadership.

Dimon criticized US government officials who he believes are imposing their ideas on how India should be run. “A lot of US government officials in India are ‘fantasizing… how we think they should be running their country,'” Dimon remarked.

The event’s video was shared on X (formerly known as Twitter) by Union Minister Piyush Goyal.

Dimon praised PM Modi as a “tough” administrator who is dismantling outdated bureaucratic systems in the country. “We need a little bit more of that here (in the US),” he added.

He also commended India’s education system and infrastructure, describing them as “unbelievable.”

“They have 29 states or something like that… and the tax system is complicated.. it’s like Europe. It leads to enormous corruption. He is breaking it down… And so yeah there are these people who have turned things around… And we need a little bit of that here as well,” Dimon stated.

Dimon highlighted that 700 million people in India now have bank accounts, and the process of transferring payments is functioning smoothly.

“Every citizen by hand or eyeball or by finger is recognized. They’ve [opened a] bank account for 700 million people. Their transferred payments are going through,” Dimon noted.

While expressing confidence in the US economy’s performance, Dimon cited strong employment numbers and healthy consumer finances. He described the US economic boom as “unbelievable” and emphasized that even in the event of a recession, “the consumer’s still in good shape.”

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