Prime Minister Manmohan Singh will address the the 5th BRICS Summit at Duban in South Africa today. Dr. Singh will also handover the Chairmanship of the BRICS grouping to the Summit hosts in the plenary session this afternoon.

AIR correspondent covering the Durban Summit reports, Dr. Singh is expected to urge for equitable inclusive economic development and for fast tracking reforms for a more balanced global financial architecture.

New Delhi also favours the BRICS nations, Brazil, Russia, India, China and South Africa to speak in one voice on issues such as reforms of the United Nations Security Council. Dr. Singh is also likely to urge BRICS nations to ensure policy coordination to revive the downturn in the global economy.

Later in the evening, Dr. Singh will hold talks with the new Chinese President Xi Jinping on the sidelines of the BRICS Summit. This will be the first bilateral meeting between the two leaders after the change of leadership change in Beijing.

Officials said, India have sent clear signals of reciprocating China's new leadership's desire to improve ties without it being held hostage by problems like the boundary issue. AIR correspondent reports, Sino Indian ties are expected to get a boost along the positive trajectory as Prime Minister Manmohan Singh and Chinese president Xi Jin ping meet at Durban.

On sidelines of the summit, Dr. Singh last evening also held cordial bilateral talks with Russian President Vladimir Putin, President of Brazil Dilma Rouseff and the South African President Jacob Zuma. Our orrespondent reports, the discussions on the opening day at Summit saw the finalization of modalities for formation of permanent BRICS BUSINESS COUNCIL, to facilitate trade with BRICS members and third countries.