Davos, Jan 23 (PTI): Narendra Modi became the first Indian prime minister to address the World Economic Forum (WEF) here today during which he talked about "serious" challenges and "grave concerns" facing the world, including terrorism.

Climate change and terrorism are grave concerns before the world, Modi said, while asserting that terrorism is dangerous but what is equally dangerous is the "artificial distinction" made between 'good terrorist' and 'bad terrorist'.

He also said India's position on the menace of terrorism is well known and he would not like to elaborate on that.

The prime minister, who arrived here yesterday, said issues of peace, security and stability have emerged as serious global challenges.

He also noted that the last time when an Indian prime minister came here in 1997, India's GDP was a little more than USD 400 billion, but now it has increased more than six-times.

Referring to WEF's theme of 'Creating a shared future in a fractured world', he said the Indian philosophy of 'Vasudhaiva Kutumbakam' (the world is one family) has become more relevant in today's time to address fissures and distances in the world.