JPMorgan Chase & Co CEO Jamie Dimon said India has a bright future and said the global firm is expanding its reach in the country.

What Happened: Speaking at JPMorgan Global Markets Conference in Paris, Dimon told Bloomberg that the fastest-growing major economy in the world has a bright future through the work it has done on expanding its structural and financial infrastructure.

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“I think India has done a very good job. When you look at India, it should have a very bright future. I'm not saying as a counter to China. I think we should all be reaching out to India.” Dimon said.

Dimon added that “They made a lot of changes. Infrastructure, transfer payments, 700 million people having bank accounts are going to be very good for that country.”

JPMorgan Chase CEO pointed out that India is a democracy and a natural friend of the Western World. “We should all be helping them,” he said.

When asked about JPMorgan’s activities in the country, Dimon said they are going all in on the country. “We have 60,000 employees there, big campuses, high technologies, and we are expanding our trading, research, and investment banking. We are there big time,” he said.

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