(Bloomberg) -- JPMorgan Chase CEO Jamie Dimon said “the optimism on India is actually completely justified,” in an interview with CNBC-TV18, citing moves the country has made in recent years to boost baseline capabilities, like increasing the number of people with bank accounts, boosting infrastructure, simplifying the country’s tax system and trying to open up more for foreign direct investment.  

“It’s not just because of the complications with China,” Dimon said. “I think that’s an opportunity, but some of this optimism would’ve been there anyway.”

The inclusion of Indian bonds in JPMorgan’s emerging markets index will also enable an estimated $25 billion worth of foreign bond purchases into the country, he added. 

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