The G7 Countries Summit !

Seven of the most developed and industrialized economies in the world are members of the Group of Seven, or G7, an international organization:

Canada

France

Germany

Italy

Japan

Britain

America

Although it is not considered one of the seven member states, the European Union attends G7 meetings as well.

Image Source:-Siasat.com(G7 Countries Flag)

Purpose:-

The G7 provides a platform for leaders to collaborate and discuss global crises, international development, climate change, security concerns, and economic policies. Although it lacks a regular secretariat and legal authority, its members’ combined economic and political might gives it influence.

Origin:-

In reaction to economic shocks such as the global recession and the oil crisis, the group was first established in 1975 as the G6 (Canada excluded). A year later, Canada became a member of the G7. After joining in 1998 to establish the G8, Russia was suspended in 2014 due to the annexation of Crimea, which caused the group to revert to its G7 structure.

The Main Agenda of G7 Countries:-

Key domestic and international challenges that need for coordinated action by the world’s top economies usually dominate the G7 countries’ agendas. The main priorities frequently consist of the following, though the emphasis may change from year to year depending on current affairs:

1. Stability and Growth of the World Economy:-

Coordinating budgetary and monetary policy.

Controlling interest rates, debt, and inflation.

Assisting underdeveloped nations and providing debt relief.

2. The Environment and Climate Change

Cutting back on greenhouse gas emissions.

Encouraging green technologies and clean energy.

preserving the oceans and biodiversity.

Reaching international climate goals (such as the ambitions of the Paris Agreement).

Image Source(AP News) G7 Ministers Meeting

Health and the Pandemic Being ready:-

Bolstering international health systems.

Distribution and equity of vaccines.

Getting ready for pandemics in the future.

Support World Health Organization (WHO) .

Geopolitics and International Security:-

Addressing international problems (such as the war in Ukraine and tensions in the Middle East).

Collaboration in counterterrorism.

Indo-Pacific strategy and maritime security.

Threats from disinformation and cybersecurity.

Innovation and Technology

Artificial intelligence used ethically.

Data privacy and Big Tech regulation.

Encouraging digital connectivity and infrastructure in poor countries.

Supply Chains and Trade

Securing international supply networks (particularly for energy, key minerals, and semiconductors).

Maintaining Open and Equitable International Trade.

Less reliance on authoritarian governments.

The host country establishes particular themes for the G7 presidency, which alternates between member nations every year. For instance, Italy, which presided over the G7 in 2024, concentrated on:

*Migration

*Africa and the world Engagement from the South

*Security of energy

*Governance of artificial intelligence

https://www.youtube.com/shorts/tn60rKOTsNU

Image Source(The Economic Times) PM Modi Reached Canada for G7 Summit

Economic Forum:-

The G-7 is made up of nations with advanced economies. Even though India’s economy is expanding quickly and is among the largest in the world in terms of purchasing power parity, it is still regarded as an emerging market when compared to the more established industrialized countries in the G-7.

Historical Membership:-

The G-7 was established at a period when Western nations controlled the world economy. India and other emerging economies were left out of the initial group.

Other Forums:-

India participates in other global organizations that emphasize economic cooperation, like the G-20, which consists of both developed and developing nations. A wider forum for talking about international economic concerns, particularly those that affect nations like India, is offered by the G-20.

Geopolitical Dynamics:-

Membership in these groupings is also influenced by the geopolitical environment. In the past, the G-7 has concentrated on topics that are pertinent to Western interests and goals, which may not always coincide with those of developing nations like India.

Described: If India is not a member, why is PM Modi attending the G7 summit in Canada?

Although India is not a permanent member of the G7, it has received multiple invitations to join the summit since 2003. Despite not being a formal member, India, the world’s most populous and fifth-largest economy, has previously attended G7 summits as a special invitee and “outreach partner.”

Prime Minister Mark Carney of Canada asked Prime Minister Narendra Modi to attend the G7 Summit, and he will arrive in Canada on June 16. On June 16 and 17, PM Modi will visit Kananaskis, Canada, to take part in the G7 Summit.

“The Summit will offer a forum for discussing urgent global concerns and the Global South’s aspirations. Additionally, I’m excited to interact with leaders from partner nations,” PM Modi stated in a statement.

Image Source(ETV Bharat) PM Modi reached Canada after Cyprus Visit

Should India be The Part of G7 in Future,& become member of G8 !

China would be a member of the G7 if it were just a group of the largest economies. It is more of an association of liberal democracies that support particular socioeconomic principles. Although there is a valid argument for India to join the G8, I don’t believe that its size is the primary factor. On the other hand, there are some characteristics that set India apart from the other G7 countries, indicating that they are not entirely in agreement on some matters.