Mumbai, September 21 (IANS). Union Finance Minister Nirmala Sitharaman met Jamie Dimon, Chairman and Chief Executive Officer (CEO), JPMorgan Chase & Co., during the 11th edition of JPMorgan India Investor Conference held in Mumbai on Monday.
According to the Finance Ministry, Jamie Dimon spoke with the Finance Minister on the sidelines of the conference. In this conference, investors, policy makers and corporate leaders deliberated on India's economic prospects and investment opportunities.
The Finance Minister also addressed the conference and participated in a special fireside chat with Sajid Chinoy, Asia Economics Head, JPMorgan.
Nirmala Sitharaman said on social media platform X that Jamie Dimon met her during the JPMorgan India Investor Conference held in Mumbai.
He also informed that he addressed the investors and delegates present at the conference and discussed issues related to India's economy and investment scenario with Sajid Chinoy.
“Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co., interacts with Finance Minister Sitharaman during the JPMorgan India Investor Conference in Mumbai, Maharashtra,” Finance Minister Nirmala Sitharaman wrote in a post on social media platform X.
The meeting comes at a time when a recently released JPMorgan report said that a combination of tax reforms and regulatory measures have made the Indian equity market more attractive for domestic investors.
According to the report, changes in the tax structure relating to long-term capital gains, debt mutual funds and some insurance products have increased the relative attractiveness of investing in the stock market.
JPMorgan believes that these reforms, along with increased participation through Systematic Investment Plans (SIPs), have played a significant role in diverting household savings towards financial assets.
The report said that domestic investors have emerged as a stabilizing force for Indian markets in recent years. They have supported the market despite selling by foreign portfolio investors (FPIs) and volatility arising from global uncertainties.
According to JPMorgan, participation from retail investors remains strong despite relatively limited returns from benchmark indices, indicating a structural shift in investment behavior in India.
–IANS
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