JPMorgan Chairman and CEO Jamie Dimon has called for stronger relations between the United States and India while respecting India’s non-aligned position. Speaking at JPMorgan’s 10th Annual India Conference, Dimon highlighted that despite global challenges such as trade tensions, the Ukraine conflict, and issues around Russian oil, he remains optimistic about the future of US-India cooperation.
India Should Stay Non-Aligned but Close to the US
Dimon emphasized, “India is a great friend of America and should stay non-aligned, but we should also be their best friend.” He believes that a strong partnership with India can benefit both countries economically and strategically.
Trump’s H-1B Visa Changes Surprised Companies
The JPMorgan CEO addressed the recent H-1B visa changes announced by President Donald Trump. According to Dimon, these changes caught many companies off guard and triggered urgent discussions within the business community.
Dimon on Tariffs and Economic Growth
JPMorgan CEO Jamie Dimon said in a Times of India interview that tariffs are modestly inflationary and may have effects beyond a one-time impact. He also expressed optimism about India’s economy, noting its 6% growth rate and the potential for this momentum to continue for the next 20 years.
Jamie Dimon on AI Boom: Many Companies May Fail
JPMorgan CEO Jamie Dimon said that while Artificial Intelligence (AI) is real and drawing billions in investment, the boom-bust cycle will cause many companies to fail. He compared AI to past technological waves like cars, TV, and the internet, where the technology was transformative but many firms went bankrupt. JPMorgan itself employs 2,000 people on AI projects across 500 use cases.
Dimon highlighted that Big Tech has spent or committed $155 billion on AI by August, more than the U.S. government spends on education and social services. JPMorgan uses a mix of large and small AI models, both open-source and proprietary, choosing the best tools for the company and its clients.
Support for Merit-Based Immigration
Dimon strongly supports a merit-based immigration system. He suggested that skilled workers, seasonal laborers, doctors, and professionals should be allowed to stay in the US. “If someone earns a degree in America, we should stamp a green card on it,” he said. He believes fair immigration policies can coexist with strong border security.
Business Engagement Needed
The JPMorgan CEO hopes that companies will soon work with the US government to find practical solutions for immigration. According to him, this will help attract and retain global talent, which is critical for growth in technology, finance, and other sectors.
In summary, Jamie Dimon calls for stronger US-India ties, respect for India’s non-alignment, and a fair, merit-based immigration system that benefits both countries and skilled professionals.
