"I think the rise of China has contributed handsomely to sustaining the growth momentum in the world economy," he said in an interview with CNN coinciding with his arrival here on Sunday.
"And as far as India is concerned, I have said it many times that India and China are not in competition," Manmohan Singh said when asked about the prospect of the rise of China whose economy is already three times the size of India's economy.
"We believe that there is enough economic space for both our countries to realise the growth ambitions of our respective countries. And that's the attitude which guides us in dealing with China," he said.
Development in India cannot be a carbon copy of what happens in China as the two countries had different systems with India a functioning democracy, the Prime Minister said.
"Well, I have no hesitation in saying that I think development in India cannot be a carbon copy of what happens in China. And the Chinese system is very different."
Asked to react to the wish of international entrepreneurs that they could set up business in India with the same ease as in China, Manmohan Singh said: "We are a functioning democracy. And even if you want to acquire land, I think you run into serious problems. Democracy is slow-moving.
"I always believed that it may be slow-moving in the short term, but in the long run, an arrangement which has the backing of the people at large will prove to be more durable."
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks