What is the right way of increasing quality back link from other website?
 

Can any1 suggest me how to increase the quality of back link from other website...

Writing content that is deliberately designed to attract links towards it is one...Here are some other techniques on my link-building list:
- Submitting RSS feeds to feed directories
- Submitting website to social bookmarking sites
- Participating in social networking sites and related communities
- Writing guest posts for related blogs to your niche.
- Creating link baits

So long as it is done all organically, it should help.

You can write unique articles to many websites. You can rely on blog and forum commenting as well as social bookmarking.

I think the use of higher ranked and niche website for link building is the best way to generate quality back link on our website.

Focus on Niche Based Inbound Links! For Instance Your If Your Sites Niche is Car Rental, acquire High Quality Links from car rental sites!