Prime Minister Narendra Modi today said the development of global economy is largely driven by one-sided decisions and disputes felt by the entire system, while addressing a meeting of leaders of the grouping of BRICS nations on the sidelines of the G20 summit in Japan`s western city of Osaka. Other key points of his address are: 

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1. The Prime Minister said, "We should still focus on the World Trade Organisation (WTO) reform to achieve balanced development of the global economy and so this growth is open to everyone." 

2. According to Modi, terrorism is the biggest threat to humanity which not only kills innocents but also severely affects the economic development and social stability.

3. PM said that there is a need to stop all the mediums of support to terrorism and racism, adding "Terrorism is the biggest threat to humanity. It not only kills innocents but also severely affects the economic development and social stability." The Prime Minister is in Osaka for the G20 Summit. 

4. At a meeting of leaders from the BRICs countries on the sidelines of the G20 summit in Osaka, Russian President Vladimir Putin said, "This is clear that it (global trade) needs to be adopted to the present-day developments... We consider counter-productive any attempts to destroy WTO or to lower its role." 

5. Vladimir Putin said the current situation in the global economy was worrying as global trade was feeling the effect of "protectionism, (and) politically motivated restrictions."