Modi, who was the first Indian Prime Minister to attend the WEF in Davos in 20 years, said it's painful to see young minds getting radicalised.
He said issues of peace, security and stability have emerged as serious global challenges.
Pitching Indian commitment to ensure world peace, Modi said Indian philosophy of 'Vasudhaiva Kutumbakam' (world is one family) is more relevant today to address fissures in the world.
He also said India's position on the menace of terrorism is well known and he would not like to elaborate on that.
Modi said India has replaced red tape with red carpet for investors in the country.
Top quotes from PM Modi's speech at WEF in Davos
- I am happy to be in Davos to address the WEF. This Summit seems to find solutions to the various problems the world faces. I thank the people and Government of Switzerland for the warm welcome here.
- In 1997, when last Indian Prime Minister visited Davos, India's GDP was around USD 400 billion. Now after 20 years, its up by six times. It was the time when Euro was not in circulation, Brexit had not happened, world hadn't heard of Osama Bin Laden. If you had searched for Amazon on internet during those times, river and forest would come up in results.
- This year the topic here is 'Creating a shared future in a fractured world'. New powers are changing the balance between Economic and Political strength. This is indicating a change in future of the world. World is facing challenges in maintaining peace, stability and security.
- Technology assuming immense importance in this era; deeply influencing the way we behave, politics and various aspects of our life.
- Issues of peace, security and stability have emerged as serious global challenges.
- Terrorism is dangerous. Worse is when people say there is a difference between 'good' and 'bad' terror. It is painful to see some youngsters getting radicalised.
- Mahatma Gandhi's Principle of Trusteeship to use things according to one's need is important. He was against use of anything for one's greed. We're today exploiting nature for our greed. We need to ask ourselves if this is our progress or regression.
- Climate change is huge threat right now, Snow in the Arctic is melting,many islands are sinking or are about to sink.
- We in India are proud of our democracy and diversity. For a society with diverse religions, cultures, languages, attires and cuisines, democracy is not just a political system but a way of living.
- In 2014 after 30 years, Indian voters provided complete majority to any political party to form govt at the centre. We took the resolution for the development of everyone and not just a specific group. Our motto is 'Sabka Saath Sabka Vikas'.
- Change in India's ranking is an indicator that the people in India have warmly welcomed the change in policies as the road to a better future for them.
- In India democracy, demography and dynamism are giving shape to development and destiny.