"Need Little Bit More Of That In US": JP Morgan CEO Praises PM Modi

JP Morgan Chase chief executive officer (CEO) has praised Prime Minister Narendra Modi for doing an "unbelievable job". 

Speaking at an event hosted by the Economic Club of New York on Tuesday, Jamie Dimon praised the economic reforms implemented by the Narendra Modi government and said some of them could be introduced in the US as well.

"PM 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," Dimon said.

A lot of US government officials in India are "fantasizing... how we think they should be running their country", Dimon said.

The video of the event was shared on X - earlier known as Twitter - by Union Minister Piyush Goyal.

Modi has done an unbelievable job in India: Jamie Dimon, CEO of JPMorgan Chase & Co. pic.twitter.com/hGFsDL7m0C

The leading banker referred to PM Modi as a "tough" administrator for breaking outdated bureaucratic systems in the country. "We need a little bit more of that here (in the US)," he said.

The global banking giant's CEO also said that the country has an "unbelievable education system" and "unbelievable infrastructure"

Dimon also praised the country's indirect tax regime which he said has removed corruption by eliminating the disparity in tax systems in different states.

 "They have I think its 29 states or something like that, but they all had completely- its almost like Europe that have completely different tax systems, which leads to enormous corruption. He's breaking all that stuff down," he said.

"Every citizen by hand or eyeball or by finger is recognised. They have bank accounts for 700 million people. Their transferred payments are going through," he said.