Three vaccines from India are also at different stages of trial, he said.
Experts believe that the wait for COVID-19 vaccine will not be long and it is believed that it may be ready in the next few weeks, Modi said.
"India's vaccination drive would begin as soon as we get a go-ahead from scientists. The Centre is working on the basis of suggestions from state governments about who will be inoculated in the first phase of the vaccination drive," he said.
"Priority in this (vaccination) will be given to the healthcare workers involved in treating COVID-19 patients, frontline workers and old people suffering from serious conditions," he said.
Central and state government teams are working in tandem for the distribution of the vaccine against COVID-19, Modi said, adding that India has expertise for vaccine distribution as well as capacity.
"Our scientists are very confident of succeeding in their endeavour of developing a vaccine against COVID-19. There are names of vaccines from different countries doing the rounds in the market, but the world is keeping a watch on having the cheapest and safest vaccine. That is why, it is natural that the world is watching India," he said.
Public health will be top priority as far as COVID-19 vaccine pricing is concerned and states will be fully involved in the process, he said.
In his remarks, Modi also said, "We must make sure rumours are not spread during vaccination, rumours that are anti-national and anti-human. Thus, all political parties must make sure that we save all Indians from such rumours and spread awareness."
Floor leaders from all parties in Lok Sabha and Rajya Sabha were invited to attend the virtual meeting which started around 10:30 am.
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