Jamie Dimon, chairman of JPMorgan has told that COVID has brought a great window as Global Inc looks for a newer geography.
He also added ” I think you need more capital market reforms, PSU bank reforms and more consistent regulations and legal regulations to attract more capital”
Covid 19 has been tough on India with record high infections and lockdown crippling the economic activities
This crisis may be a great opportunity to deliver on the country’s growth potential as international businesses look for newer geographies that have skills and infrastructure and offer a stable regulatory regime, he said.
This crisis may be a great opportunity to deliver on the country’s growth potential as international businesses look for newer geographies that have skills and infrastructure and offer a stable regulatory regime, he said.
“It has obviously been very tough in India and you have taken a lot of bold decisions to get around this too, but it’s going to be tough”
‘US-China trade spat necessary’
There is an urgent need for companies to get back to work wherever it is safe as continuing to stay home could have far worse consequences on people and societies like depression due to lack of income.
“The damage would have been far worse had they not done anything,” said Dimon.
“You and I can criticise all these policies, but they moved so quickly especially the central banks. These policies will be debated for years, especially the after-effects, but I think they stopped it from getting much worse.”
It can be a real opportunity for India to get the investments from all over the world as the US and other countries have been circulating the money in the market which is looking for a place to reside.
With the increasing tension between US and China, the best place to park the investors money would be India because of its huge consumption, democracy, stable government which is taking many significant reforms day after day to catch up to the rest of the world. Ease of doing business of India is increasing year after year. At present India jumps to 63rd position in World Bank’s Ease of Doing Business 2020 report
