Jamie Dimon, Chairman & CEO of JPMorgan Chase (NYSE:JPM), has expressed optimism over the strengthening partnership between India and the United States amidst significant global changes. In an interview with CNBC-TV18 on Tuesday, Dimon highlighted India's growing economic potential and praised Prime Minister Narendra Modi's policies for simplifying the country's economic landscape.
The JPMorgan Chase CEO, on his first visit to India since the pandemic, noted that India and America are emerging as natural partners in the evolving global landscape. "India and America are natural partners. Between Russia and China, you have to be kind of non-aligned, but we are your best friend. I mean, anyone who doesn't think that through hasn't thought really carefully," Dimon said.
He further emphasized the need for leaders from both countries to engage in constructive dialogues to adapt to the changing global dynamics and foster mutually beneficial trade and investment relationships. "I'm hoping that political leaders sit down, have these conversations and make these changes in a way that's not completely disruptive but is dwarfed by the risk of war and nuclear proliferation, things like that. So I think we have to be very cautious about it. But it's an opportunity for India, and hopefully, you're going to seize it," he stated.
Dimon also pointed out Prime Minister Modi's successful efforts in streamlining processes for financial inclusion, tax simplification, and promoting foreign direct investment through initiatives like the Aadhaar system. The JPMorgan Chase CEO expressed his optimism not just due to complications with China but also because of the inherent potential he sees in India's economy.
"The universe is here, we're not the only bank here, there are large other banks with a lot of people, but so is Accenture (NYSE:ACN), McKinsey and obviously you have your local Tata, etc., so those things are driving optimism. And it's not just because of the complications with China, I think that's an opportunity but some of this optimism would have been there anyway," Dimon told CNBC-TV18.
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