Global financial services major JP Morgan last week included Indian government securities in its emerging market bond index. It was the first time Indian G-Secs were added to a major global bond index. On Monday, Jamie Dimon, one of the longest-serving CEOs of JP Morgan, addressed the bank’s summit in Mumbai. In an interview, Dimon shared his thoughts on various topics including the Indian and US economies, interest rates, and the return-to-office.

Dimon expressed his appreciation for India’s progress over the last 10 years and highlighted the country’s success in attracting global services exports. He also mentioned the manufacturing opportunities in India and the potential for equity portfolio flows to accelerate after the inclusion of Indian government securities in bond indices.

Dimon discussed the potential impact of rising interest rates on businesses and emphasized the importance of being prepared for higher rates. He also acknowledged the risks and challenges faced by the US economy, including inflation and the need for sustainable fiscal policies.

Regarding the offshoring trend, Dimon mentioned that JP Morgan’s global capability centers have expanded over the years, and he believes the trend will continue to grow. He praised the talent and capability of the people in India and highlighted the significant contributions of JP Morgan’s Mumbai center.

Dimon also commented on the recent SVB crisis and the risks associated with combining digital banking and social media-fueled bank runs. He emphasized the need for regulators and banks to be aware of concentration risk and to have plans in place to manage such situations.

On the topic of the return-to-office, Dimon shared JP Morgan’s approach, stating that about 60% of their employees have been working in the office even during the pandemic. He discussed the importance of in-person interactions for learning, creativity, and decision-making.

Dimon expressed his support for crypto regulation and emphasized the need to differentiate between cryptocurrencies that have value and those that are fraudulent. He also acknowledged the high charges associated with sending money through banks across borders and suggested that the government can help by allowing real-time international transfers for small consumer accounts.

In conclusion, Dimon’s insights shed light on the current economic landscape in India and the US, the significance of the inclusion of Indian government securities in the bond index, and JP Morgan’s perspective on various key issues.