JPMorgan Chase CEO Jamie Dimon heaped praise on Indian Prime Minister Narendra Modi, commending his economic stewardship. In an interview with the Financial Times, Dimon lauded Modi’s efforts to alleviate poverty, highlighting the 400 million people lifted out of economic hardship under his leadership.
Dimon’s praise for Modi’s economic policies stands in contrast to concerns raised by the Financial Times editorial board. The board has expressed apprehensions about the erosion of political freedoms in India, particularly since the Bharatiya Janata Party’s (BJP) second general election victory five years ago. The board cited instances of harassment faced by government critics, including independent media, academics, and civil society groups.
Despite these concerns, Dimon expressed a positive outlook on the US economy. He characterized the current economic state as “unbelievable” and “booming for a while.” However, he cautioned against overconfidence, emphasizing the potential impact of geopolitical tensions on the economy. Dimon pointed to the elevated price of oil and the risks of attacks on energy infrastructure as factors that could send oil and gas prices soaring.
Dimon also offered his views on the business community’s role in government. He encouraged more individuals from the business sector to serve in government and advocated for the inclusion of members from the opposing party in presidential cabinets. Dimon’s comments reflect his desire for greater collaboration between the public and private sectors for the betterment of society.
