The former minister said that India also needs to identify the export market requirement and work towards building it.
The G20 presidency, which Saudi Arabia takes over from Japan, will see it host world leaders for a global summit in its capital next November 21-22.
The report also said that none of the G20 countries have plans that will help them achieve the target.
Modi also had a brief chat with many top world leaders, including Donald Trump, Theresa May, Angela Merkel and Emmanuel Macron.
While battles between police and protestors smoulder outside, leaders of the European Union, United States and China appear close to a trade war cliff edge at the G20 summit in Hamburg.
LeT same as ISIS, al-Qaeda; ban entry of officials from terrorism-supporting countries into G-20 nations: PM Modi
Modi, who was a lead speaker on the theme of terrorism at the Leaders Retreat at the G-20 Summit, also presented an 11 point action plan to counter terror.
US President Donald Trump and Russian leader Vladimir Putin had a lengthy exchange on allegations of Moscow's meddling in US elections.
The G20 nations said border agencies will strengthen cooperation to detect travel for terrorist purposes, including by identifying priority transit and destination countries of terrorists.
Hamburg police were also forced to call in reinforcements from other parts of Germany, as Chancellor Angela Merkel condemned the violence wrought by demonstrators as "unacceptable".
Russian President Vladimir Putin today underlined the importance of staying calm in the North Korea crisis, saying nuclear-armed Pyongyang should be dealt with in a "pragmatic" manner.
Protests overnight saw police fire water cannon and tear gas in running battles with activists, leaving 159 officers and an unspecified number of demonstrators injured.
Chinese President Xi Jinping, speaking right after Modi, also appreciated the momentum witnessed at the BRICS bloc during India's chairmanship before it was passed on to China.
Modi said that the spread of terrorism is a threat for societies in Asia and Europe as he expressed concern over its increasing influence in the war-torn Afghanistan.
In a tweet, external affairs ministry spokesperson Gopal Baglay said Modi and Xi discussed a range of issues.
US President Donald Trump and Russian leader Vladimir Putin held their first face-to-face meeting Friday at the G20 summit.