"We salute all those brave women and men who lost their lives in the gruesome 26/11 attacks in Mumbai. Terrorism has become a global burden," Modi said in his monthly radio programme "Mann Ki Baat".
He said India has been raising the issue of terror for the last four decades in the global platforms.
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"Initially, the world did not take us seriously but now the world is realising the destructive aspects of terrorism," he said.
"The whole world needs to come together to be able to defeat this threat on humanity," the Prime Minister added.
Meanwhile, Maharashtra Governor C Vidyasagar Rao, Chief Minister Devendra Fadnavis and a few state ministers laid wreaths at the police memorial in South Mumbai this morning and observed silence in memory of the bravehearts.
DGP Satish Mathur, Mumbai Police Commissioner Datta Padsalgikar and top police officials also paid tributes to the bravehearts.
Family members of those killed were among those who paid respect to the departed souls.
"To the 166 lives lost...to over 239 injured...to the innumerable memories etched on the firmament forever and to Mumbai, the city which picked up its pieces and started stronger than ever - A Salute and A Bow of Gratitude from Mumbai Police!" the Mumbai Police tweeted.
Over 160 people were killed and more than 300 injured when the terrorists of Pakistan-based Lashkar-e-Taiba launched a series of attacks on India's commercial capital on November 26, 2008.