He flagged H-1B visa disruptions and trade issues but remained confident in deeper cooperation
JPMorgan Chairman and CEO Jamie Dimon has underlined the importance of strengthening US-India relations, saying India should remain America’s closest partner while continuing its long-standing non-alignment stance.
Speaking to CNBC-TV18 during JPMorgan’s 10th Annual India Conference, Dimon expressed confidence that the two nations can navigate differences and build deeper cooperation.
“India is a great friend of America. It should be. I know it’s non-aligned, and it should stay non-aligned, but with that non-alignment, we should be their best friend,” Dimon said.
He acknowledged that ongoing issues, such as trade frictions and the complexities around Russian oil imports amid the Ukraine war, had created challenges, but stressed that both countries have the intent to resolve them intelligently for mutual benefit.
Dimon also touched on the H-1B visa matter, which he described as unexpectedly disruptive. Highlighting the value of skilled immigration, he urged US policymakers to adopt a merit-based approach.
He echoed US President Donald Trump’s stance on green cards if someone earns a degree in America, adding that retaining talent such as doctors, seasonal workers, and high-skilled professionals would strengthen the US economy.
His remarks come as Washington and New Delhi seek to enhance strategic and economic cooperation, even as global trade tensions and immigration reforms dominate discussions.
Turbulent Relationship
India’s relationship with the US suffered a few setbacks in the last few months, primarily due to the imposition of 50% tariffs by Trump on Indian exports. Trump blamed India for prolonging the war in Ukraine by buying Russian crude.
The situation was further exacerbated when the US recently raised the fee for H-1B visas to $100,000, leading to a strong sell-off in Indian IT stocks.
However, attempts at fixing the relationship are ongoing. On Monday, US Secretary of State Marco Rubio described India as a “critically important” partner for the United States during a meeting with External Affairs Minister S. Jaishankar in New York on the sidelines of the 80th UN General Assembly. Rubio expressed appreciation for India’s engagement across trade, defense, and energy, while emphasizing the need to deepen cooperation.
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