Why JPMorgan CEO believes PM Narendra Modi is doing an ‘unbelievable job’

Prime Minister Narendra Modi is doing an unbelievable job in India, believes JPMorgan CEO Jamie Dimon. “Modi has done an unbelievable job in India… I know the liberal press here, beat the hell out of him, but he has taken 400 million people out of poverty,” Jamie Dimon said. The JPMorgan CEO was speaking at an event organised by the Economic Club of New York.
Dimon lauded PM Modi, calling him tough and crediting him for doing a difficult job.“We go lecture Modi…we're fantasizing about climate, labour and how we think they should be running their country. He has 400 million people without toilets. Really, really, and we're lecturing them how to do things. They put in this unbelievable system..every citizen by hand or by eyeball by finger, is recognised. They have opened bank accounts for 700 million people. The transfer payments are going through, they've got an unbelievable education system, unbelievable infrastructure, they're lifting up that whole country, because this one man is just, he's tough,” he said.

The JPMorgan CEO also credited PM Modi for breaking down bureaucratic hurdles. “I think they have 29 states or something like that. It's almost like Europe, they're completely different tax systems, which leads to enormous corruption. He's breaking all that stuff down. And so yeah, there are examples of people who have just turned these things around and you know, we need a little bit more of that here,” he said.

PM Narendra Modi, who came to power at the Centre for the first time in 2014, has made India one of the fastest growing economies in the world. Under his leadership, India has climbed several places to become the fifth largest economy in the world.