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JPMorgan Chase CEO Jamie Dimon lauds Modi's leadership
Dimon highlighted India's progress under Modi, called for similar leadership in the United States
Jamie Dimon, CEO of JPMorgan Chase / LinkedIn
Jamie Dimon, the CEO of JPMorgan Chase, has lauded Prime Minister Narendra Modi's leadership and criticized the "liberal press" for its scrutiny of him.
“Modi has done an unbelievable job in India,” Dimon said while during a webinar hosted by The Economic Club of New York. He especially commended the Prime Minister’s efforts in poverty alleviation and implementing reforms.
Dimon highlighted the significant strides made under Modi's tenure, particularly in lifting 400 million people out of poverty and implementation of digital initiatives such as Aadhaar and the opening of bank accounts for 700 million people.
"Every citizen, by hand or eyeball or by finger, is recognized. They have bank accounts for 700 million people. Their transferred payments are going through,” Dimon said.
He also commended India's education system and infrastructure, indirectly referencing the impact of the Goods and Services Tax (GST) in curbing corruption stemming from varying state tax systems.
Describing Modi as "tough," Dimon underscored the Prime Minister's efforts in challenging India's bureaucratic systems, suggesting a need for similar leadership in the United States. "And we need a little bit more of that here," he remarked.
Dimon’s comments coincide with ongoing Indian elections, where Modi is seeking a third consecutive term. With the first phase of elections concluded on April 19, the second phase of voting is imminent. Results are scheduled for June 4, with Modi's Bharatiya Janata Party (BJP) aiming to secure at least 400 seats in the 543-seat Lok Sabha.
In addition to discussing India, Dimon addressed various topics during the New York event, including the competitive landscape of global financial centers.
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