Modi also lauded country's athletes who won medals in recent international events.
"Every life, every being is a source of inspiration. Every young sportsperson's passion and dedication is the hallmark of New India," he said in his monthly radio address 'Mann ki Baat'.
He said for India, November 11 has a special significance as it marks 100 years of the end of World War I.
"Rightly speaking, we had no direct connection with that war. Despite this, our soldiers fought bravely and played a very big role and made the supreme sacrifice... There has just been a single objective behind it- restoration of peace," he said.
Modi also said that wherever there will be a talk of world peace, "India's name and contribution will be written in golden letters."
He said the definition of peace has changed in the last hundred years.
"Today, peace does not only mean ‘no war'. There is a need to work unitedly to address issues such as terrorism, climate change, economic development to social justice through universal cooperation and co-ordination. Development of the poorest of the poor is the real indicator of peace," the prime minister asserted.
Referring to sports and players, he recalled his recent interaction with para athletes who participated in the Asian Para Games 2018 held at Jakarta.
"These athletes bagged a tally of 72 medals, creating a new, unprecedented record, bringing glory to the nation ... Their grit and determination; their resolve to overcome all odds in the path of success is indeed inspiring for all our countrymen," he said.
Modi also recalled his meeting with winners of the Summer youth Olympics 2018 held in Argentina.
"You will be pleased to know that in the Summer Youth Olympics 2018, the performance of our youth was the best ever ... Have you observed the way I have frequently used terms such as ‘the best ever' or ‘new, unprecedented record?
"This is the real story of Indian sports which are witnessing an upswing with each passing day. India is setting new records not just in the field of sports but also in hitherto uncharted areas," the prime minister pointed out.
Referring to the Men's Hockey World Cup 2018 in Bhubaneshwar from November 28 to December 16, he said India has a golden history in hockey.
"It is a good chance for the sports lovers to witness closely contested matches. Go to Bhubaneshwar and cheer up the Indian team and also encourage each team there. Odisha has a dignified historical background and has a very rich cultural tradition. People of the state are full of warmth," he said.