India has all the makings of a superb economy provided it sustains the political will to keep pressing with the changes rolled out in the last few years and cuts down on red tape, a leading US business leader said on Friday.
"I am very bullish on everything I see happening in India today. As a business leader it really seems to have shifted in the last two or three years and much more positively," said David Cote, CEO of Honeywell International, which was honoured on Thursday night with the USIBC award for a "US company contributing most to Indo-US Commercial Relationship."
"My biggest concern is the political will continue to make all that happen. Not as much among the current leaders but leaders four years from now, five years from now, ten years from now is that the political will continue," he said.
"If that political will continues and the change and the opening up continues -- but there is still more things that need to change such as in retail -- and I hope all of that continues and the sky is the limit for Honeywell," he said.
"If you have an emerging market economy doing well particularly as big as India it is all good for us" he added.
"The biggest challenge for us is going to come down to infrastructure, both physical and the softer stuff like paperwork... If you are trying to establish greater manufacturing in the country where there is imports/exports ...You have to be quickly be able to get material in process it in a factory and ship it back out again.