Indian Prime Minister Manmohan Singh said on Thursday that the BRIC economies are a factor of stability and growth amid the global economic crisis when commenting on the first BRIC summit meeting in Russia earlier this week, according to local media reports.

Singh told Indian journalists that there was a need for reforming the present systems of global governance and international financial system.

He expressed his hope that the BRIC countries -- Brazil, Russia, India and China -- would not remain only a "talk-shop" and they would work together so that their voice is heard in the global arena.

He said the BRIC leaders discussed the need to intensify cooperation among the four nations, the international economic downturn, and how to prepare for the forthcoming G-8 and G-20 Summits.

Source: Xinhua