JPMorgan CEO says India’s growth is rapid but regulatory hurdles deter investors

In remarks highlighting India’s economic momentum, JPMorgan CEO Jamie Dimon called the country probably the fastest-growing economy on the planet. He cautioned that foreign businesses frequently encounter obstacles that prevent fair competition, and that some domestic firms use regulatory tools to keep rivals out, which he said is detrimental to the nation. Dimon praised the Reserve Bank of India’s plan to raise dollars through foreign-currency deposits as a means of bolstering the rupee.

He also lauded Tata Sons chairman N Chandrasekaran, calling his performance exceptional, even though Dimon admitted he lacks specifics on a current Tata group dispute. The comments were made alongside observations on global inflation, U.S. sovereign debt, and the continued attractiveness of the United States as an investment destination.