The session also called for a united global effort against all those who support terror or help generate finances for terror.
Melbourne: Minister of State for Home Affairs, G Kishan Reddy, has announced that India will host the 'No Money For Terror' meet in India in 2020.
The minister is currently heading a high-powered five-member Indian delegation, along with Director-General of the National Investigation Agency YC Modi, at this year's edition of the three-day global conference in Melbourne against the support and financing of terrorism, which began from November 6.
At the inaugural session, the minister stressed India's concern over the "tacit support" that some nations are extending to terror groups breeding on their soil, in an apparent reference to Pakistan.
He, at the session, also called for a united global effort against all those who support terror or help generate finances for terror.
He stated that India, being a victim of cross-border terrorism, advocates zero-tolerance towards terror, a detailed report stated.
Reddy stated that despite the killing of Osama Bin Laden in 2011, several active affiliates of Al Qaeda still exist in many parts of the world. He also cautioned that despite the recent elimination of Abu Bakr Al Baghdadi, there is no room to construe that the Caliphate would cease to survive.
Viewing terrorism as the "single biggest threat to peace, security, and development" in the region, the minister further proposed four points for inclusion in the resolution to tackle the global menace saying all nations must expedite the finalisation of a Comprehensive Convention on International Terrorism under the United Nations.
All countries which participated in the meeting should also effectively enforce the standards mandated by the Financial Action Terror Force (FATF) and UN listings, the minister said.
In addition, members should also initiate discussion on Countering Financing of Radicalisation (CFR), which would prevent radicalisation - an essential prerequisite of terrorism.
Reddy would also be leading a terror-focused bilateral meeting with his Australian counterpart in Melbourne on November 8.