JPMorgan Chase CEO Jamie Dimon has praised India’s transformation over the past two decades, highlighting the country’s economic growth, infrastructure development, and key reforms.
Speaking to The Times of India, Dimon expressed optimism about India’s long-term growth, noting that the economy has been expanding at around 6% annually and has the potential to maintain this pace over the next 20 years. He specifically cited the Aadhaar system and the Goods and Services Tax (GST) as “excellent” reforms that demonstrate strong leadership under Prime Minister Narendra Modi.
“Since I’ve been coming here, you’ve accomplished Aadhaar, which I think is an unbelievable achievement. You also carried out a second round of GST reforms, which I think are excellent. Those kinds of changes matter because outdated systems can cripple commerce,” Dimon said. He also praised India’s national infrastructure program as a critical factor for sustained growth.
Dimon reflected on JPMorgan’s evolution in India, recalling that in 2005 the company operated from a small Mumbai office with limited resources, researching only about 20 companies with 10 investment bankers. Today, the firm employs more than 55,000 people in India across engineering, cybersecurity, AI, and global services, supporting operations both locally and abroad. Investment banking has also expanded, with JPMorgan now researching nearly 200 companies globally.
On a lighter note, Dimon highlighted a simple yet impactful improvement: the highway connecting Mumbai’s airport to the city. “The nicest thing is the highway from the airport to Mumbai — it really makes a difference,” he told the publication.
