New Delhi: Jamie Dimon, CEO of JP Morgan, has backed India to record good growth and the country’s economy could hit $7-trillion target by 2030 as a strong leadership under Prime Minister Narendra Modi focuses on expanding the digital and physical infrastructure of the country which is attracting multinationals to do business.
The CEO of the world’s top bank, exuded confidence in India’s growth story, saying the incumbent government is introducing and expanding manufacturing with PLI schemes, and is actively pushing to set up semiconductor plants, which would help it grow at a rate of over 7 per cent, he told The Economic Times in an interview.
Commenting more on India’s growth story, Dimon highlighted that his bank’s workforce in India is nearly 60,000. Justifying his prediction on the Indian economy, the JP Morgan CEO said his bank gives services to 850 multinationals in India “in the global service centre and that global service centre is into engineering, cyber, tech, data, and AI.”
“We’re one of the bigger international payment systems here. And all these things you’re doing are going to make you grow more. It’s achievable, and you need strong leadership, as you’ve had with Modi,” he told the ET.
Meanwhile, Dimon also spoke to CNBC-TV18 and warned that warns ‘geopolitics is getting worse’. “Geopolitics is getting worse, they are not getting better. There is chance for accidents in energy supply. God knows if other countries get involved. You have a lot of war taking place right now,” he said.
While saying that geopolitical instability is his biggest caution, the JP Morgan CEO appealed to the US to prepare for a prolonged war between Ukraine and Russia. He also flagged concerns over attacks conducted by Yemen’s Houthi rebel group in the Red Sea.
Jamie Dimon, CEO of JP Morgan, projected Indian economy to hit $7-trillion target by 2030. Dimon expressed grave concern over the impact of geopolitics on the global economy for. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
