JPMorgan CEO's praise for 'tough' PM Modi: 'Need a leader like that in US too'

JP Morgan CEO Jamie Dimon praised reforms undertaken by the PM Modi regime in the recent past.

Prime Minister Narendra Modi is doing an "unbelievable job" in India, JPMorgan Chase & Co. chief executive Jamie Dimon said, adding that a lot of US government officials are "fantasizing... how we think they should be running their country" while the Indian leader is facing challenges heads on. Speaking at an event organised by the Economic Club of New York, JPMorgan's Jamie Dimon praised reforms undertaken by the PM Modi regime in the recent past.

He said, "Every citizen by hand or eyeball or by finger is recognised. They've bank account for 700 million people. Their transferred payments are going through."

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Jamie Dimon on PM Modi's initiatives

India has an "unbelievable education system" and "unbelievable infrastructure", he said, highlighting how PM Modi is very "tough" as he broke traditional bureaucratic systems in the country.

"And we need a little bit more of that here," he added.

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Praising India's indirect tax regime which Jamie Dimon said removed corruption by elimination disparity in tax systems followed by different states, he said, "I know the liberal press here, they beat the hell out of him. He's taken 400 million people out of poverty."

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Jamie Dimon on US

Cautioning how national debt, inflation and geopolitical conflicts could impact the US economy, he called for a more better and easy relationship between lenders and regulators.

"I would like to see practitioners go back to the government," he said. On his name being floated for senior economic roles in the US government, he said, "I want to help my country."

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