Some of Modi govt’s economic reforms could be introduced in US as well: JP Morgan CEO
Global banking giant JP Morgan Chase chief executive officer (CEO) Jamie Dimon said that Prime Minister Narendra Modi has taken 400 million (40 crore) people out of poverty and is doing an “unbelievable job” in India.
Speaking at an event hosted by the Economic Club of New York on Tuesday, Dimon lauded the economic reforms implemented by the Modi government and said some of them could be introduced in the US as well.
Dimon also lauded India’s GST regime, which he said has removed corruption emanating from the disparity in tax systems followed by different states.
He complimented PM Modi for his resilience in challenging outdated bureaucratic systems, calling him “tough”.
He said, “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.”
The leading banker referred to PM Modi as a “tough” administrator for breaking outdated bureaucratic systems in India and said, “We need a little bit more of that here (in the US).”
Dimon highlighted India’s advancements in technology and finance, noting the widespread adoption of digital identification and banking services, with over 700 million citizens having bank accounts.
“Every citizen by hand or eyeball or by finger is recognized. They’ve bank accounts for 700 million people. Their transferred payments are going through,” he pointed out.
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