Jamie Dimon, the CEO of JPMorgan Chase and one of the world’s most influential bankers is all praises for PM Narendra Modi’s initiatives. In an interview to CNBC-TV 18, Dimon said that PM Modi is making all the “right moves”. Dimon is bullish on India and says that the country features prominently in JPMorgan’s investment plans. Speaking at an equity conference of JPMorgan in India, Dimon said, “We love India, we have been here since 1945. This conference is a testimony to the growth of India. We have 100s of companies and investors from around the world here.”
“To the Indian people I would say that you have the fastest growing economy in the world. There are some fabulous companies here, great education, and a Prime Minister who is making all the right moves. This is a great country,” he said. Asked about the ongoing global market volatility, Dimon said, “I don’t spend that much time worrying about market volatility. We believe in building, serving the people and doing a great job. Volatility will take care of itself.” “I am very very optimistic about the long-term prospects. In the short-term there will always be things that concern, but don’t overdo them. Invest for the future like we have been investing here in India,” he advised. “Near term apocalypse is not our base case,” he added.
Watch: PM Modi is making all the right moves for the country, says Jamie Dimon
Dimon is not the only one praises for the government’s reform initiatives and the country’s growth prospects. Recently, Aberdeen Asset Management in its report titled “India: The Giant Awakens”, credited PM Modi for finding solutions to multiple challenges, sowing seeds for structural changes and introducing reforms that may not be “big-bang”, but are definitely long-term in nature. “Contrary to some reports, Modi remains popular and reforms have not run out of steam. If one looks closely, changes are taking place everywhere. Indeed, reforms were always intended to be long-term in nature, rather than big bang,” the report said.