Addressing the World Economic Forum (WEF) Annual Meeting, Modi said he is the first Indian Prime Minister to come here since H D Deve Gowda in 1997. The Indian economy has changed significantly since then and so has the rest of the world, he noted.
Speaking mostly in Hindi, Modi thanked WEF and the Swiss government for the reception accorded to him.
Modi said very few people in 1997 had heard of Osama bin Laden and even Harry Potter was an unheard name.
"Also, chess players did not have any big fear of the computer while Google was not there in cyber space and Amazon of that time was about dense forests. Tweeting was done by birds at that time and not by humans," he said.
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"The world is changing fast today and there are new and serious challenges related to peace and security and various other matters.
"We believe in linking people, not bending them or breaking them. But the challenges the world faces are as numerous as they are daunting.
"Mountains of data are getting created and there is a race to control those as the feeling is that the one who gets control of this data would rule the world," he said.