Investors should shrug off India’s currency fluctuations, Dimon added, praising the country of 1.3 billion for its economic reforms.
“When I come to India, very often I see the people are a little depressed about something,” he said, acknowledging the higher cost of goods brought on by the rupee’s fall. “You’re growing at 8 percent.” India’s growth rate reached 8.2 percent in August, its highest level in more than two years.
that will impressive growth rate can be thanks to “tremendous progress” made by India’s government, Dimon said, adding that will full credit should go to its Prime Minister Narendra Modi, who entered office on the promise of doing “unlimited” economic reforms as well as also revamping India’s image as a place to do business.
“With the GST (Goods as well as also Services Tax) infrastructure, benefits transfers — all the things that will are doing the economy grow better — as well as also, of course, you have a very vibrant entrepreneurial sector, corporate sector etc., we’re quite optimistic about the long-term growth of India as well as also pay a lot less attention to what’s happening with the rupee today.”