The G-7 summit is being held in Kananaskis, Canada. Indian Prime Minister Narendra Modi has also been invited to this summit, which is a group of seven of the world's most developed and industrialised countries.
This meeting is considered important as the world is struggling on many fronts, such as economic uncertainty, global borders, political tensions and the climate crisis. The three-day summit is likely to discuss issues such as global stability, trade policy, economic growth and climate change, the Iran-Israel and Russia-Ukraine wars, health, strategies to deal with the pandemic, artificial intelligence and the digital economy. The G7 is not just an economic forum, but a group that accounts for 44 per cent of the world's GDP and has a profound influence on international politics. Meanwhile, what is the G7? Who are the member countries? How does it work? And why is India a part of the important summit meeting without being a member of the G7?
What is the G-7?
The G-7 is a group of seven influential countries that are the most developed and industrialised in the world. The main purpose of its establishment is to think together and coordinate on the global economy, security and major international issues.
When and Why was the G7 established?
In the seventies, the world's major economies were struggling with the oil crisis and economic recession. This led to the establishment of the G-7 in 1975.
The first meeting was held in France under the initiative of French President Valery Giscard d'Estaing. Initially, there were 6 countries in this group, so it was named G6 at that time. After Canada became a part of the group in 1976, it was named the G7.
Russia joined in 1998 and became the G8 group, but was expelled from the group in 2014 after it annexed Crimea.
G-7 member countries are: the United States of America (USA), Britain (UK), France, Germany, Japan, Italy, and Canada. The European Union (EU) is also invited as a representative.
How does the G7 work?
The group primarily works to:
Maintain global economic stability: G7 member countries discuss economic policies so that the global economy can move towards stable and sustainable growth. They promote trade, investment, and economic reforms.
Promoting trade and investment: They promote trade, which increases global trade and supports economic growth.
Global security and peace: Leaders of the G7 countries also discuss security-related issues such as terrorism, cybersecurity and international conflicts.
And a few more to name: Climate change and environmental protection, Global health, Innovation and technological development, Aid for developing countries.
Why invite India every time?
India is not part of the G7 because when the group was formed in 1975, it aimed to bring together only developed, high-income, democratic and industrialised countries on a single platform. At that time, India was a developing country with a not-so-strong economy and did not play a major role in global economic or geopolitical decisions. Hence, India was not included in this club.
However, now India’s situation has changed a lot. India is today the fifth largest economy in the world, with growing influence in areas such as technology, climate, global health and digital governance. In addition, India is a large democracy and strongly promotes the voice of the Global South, i.e. developing countries.
For these reasons, the G7 group invites India as a “special guest” to its meetings every year. This is, in a way, a sign of India’s global acceptance and growing diplomatic influence. Although India is still not a formal member of the G7, its participation shows that the G7 countries need India’s presence and voice. In the future, if the G7 expands its composition, India can become a permanent member. But currently, India's role is that of an influential partner, which, although not part of this forum, is playing a major role in its discussions and decisions.
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