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Hospitable Investment Climate In India: PM

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According to PMO sources, Singh gave the assurance to a delegation of Mitsubishi Corporation led by President and CEO Ken Kobayashi, which called on him.

"The Prime Minister welcomed the participation of Mitsubishi Corporation in infrastructure development and assured that government of India will provide hospitable environment for companies such as the Japanese major, to invest in India," a source said.

During the meeting, Kobayashi apprised the Prime Minister of Mitsubishi Corporation's focus on infrastructure, new energies, including civil nuclear energy and environment as areas of key interest in India.

He informed that the company was aware of India's regional strategic importance and has particular interest in the PPP (Public-Private Partnership) model on infrastructure development in the country.

The delegation also included Mitsubishi Corporation India Chairman and Managing Director Keiichi Nakagaki.

Excellence Key To Survival: PM

In the face of intense competition, Indian enterprises need to adopt a culture of excellence to survive and flourish in the global market, Prime Minister Manmohan Singh said on Monday.

While several multi-national enterprises have set up R&D facilities in India, the country has a "far way to go in institutionalising the culture of excellence embedded into the working processes of Indian enterprises," he said.

Singh was addressing an international conference on productivity and quality in New Delhi.

"We live in times of intense competition and rapid technological change...Technology is eliminating or at least significantly reducing entry barriers in many industries and increasing the number of providers of goods and services," he said.

Singh said the techniques for improving quality and productivity were not only useful for private enterprises but also for delivery of public services.

"In fact they can be used to design government services optimally so that service delivery becomes much-more cost effective and reliable," he said.

Giving example, the Prime Minister said that the productivity technique could be used to enhance agricultural production and improve overall supply chain management.

"Today the use of technology in planning and supply chain management has enormous potential to improve productivity, reduce cycle times as well as inventory levels drastically", he said.

India's agriculture which feeds about 70 per cent of its people suffers from supply chain management, leading to bouts of food inflation now and then.

This area is receiving attention of the government after the weaknesses in the food supply management have come to the fore.

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economy india mncs mitsubishi corporation pm