Buenos Aires: Prime Minister Narendra Modi on Friday said it was time the developing nations' priorities found a place of preference on the G-20 agenda.

Speaking at the BRICS leaders' informal meeting on the sidelines of the G-20 summit here, Modi said: "The basis of our mutual cooperation in G-20 is getting stronger. The grouping is being led by a developing country. It is a good opportunity; the priorities of the developing member nations find preference in the G-20 agenda."

He reaffirmed India's commitment to globalisation and reformed multilateralism.

Modi advocated strengthening of the United Nations' counter-terrorism network and urged the BRICS and G-20 nations to work unitedly towards that goal.

"To stop terror funding and terrorists' movements, the UN counter-terror network should be strengthened and for this purpose, BRICS and G-20 nations need to work together.

"There is need to work together against financial fraudsters and fugitives. This problem may manifest as a serious threat to the global financial stability," Modi said.