Wednesday, September 27 2006 13:03 Hrs (IST) - World Time -

Indore: Asking Indian entrepreneurs not to fear competition, Caparo Group Chairman Lord Swraj Paul has said that the country has a 'great place' in the globalisation process provided it allowed the reforms process to move faster.

"India has a great place in globalsiation. As the country has the capacity and the ability and it should not fear about the globalisation process," he said.

He said this place could be achieved provided India allowed the reform process to move at a faster pace.

"Don't fear competition. Competition will never destroy anyone, but it will improve everybody. It is about survival of the fittest," Lord Paul said while delivering a lecture On "India Inc. On Global Stage+ organised by Confederation of Indian Industry (CII) last night.

Besides Madhya Pradesh Industry Minister Babulal Gaur and Caparo's Indian head Angad Paul, leading industrialists of the state were present on the occasion Lord Paul lauded the Indian success in IT industry saying that he was proud of India's place in the world in this sector.

On India's potential, he said that 550 India companies have invested in Britain alone and the country was the third largest investor in the UK.

Lord Paul said that India has an opportunity to excel because of its huge manpower, which the other countries are lacking in and has a large number of enterpreneurs as compared to other nation.