Jamie Dimon, chairman and CEO of JP Morgan Chase, told an audience at a gathering of the Economic Club of New York that he admires the tremendous success of Prime Minister Narendra Modi in lifting millions of people out of poverty in India. According to Dimon, he was particularly pleased with the economic reforms initiated by the Modi government, which he said could be applied elsewhere, including in the US.
Dimon said that Modi is a tough administrator, breaking down antiquated bureaucratic systems. He lauded the Prime Minister's role in breaking down the antiquated bureaucratic structures; something he feels lacks in some parts of the US.
Dimon lauded India's GST regime, which he said banned corruption that was prevalent in the multiple tax systems different states had. He also commended that India was leading the world in technology and finance, particularly when more than 700 million people had attained digital identification and bank accounts.
He commended the education systems and infrastructure as "remarkable" achievements. He pointed out the positive trend in most sectors and expressed his optimism on the growth and development that India would experience under the leadership of Modi.
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