Context: Recently the US President extended an invitation to the Prime Minister of India to attend the next G7 Summit to be held in the USA.
- The recent development comes days after the US president described the G7 group of industrialized countries as “very outdated" and postponed the G-7 summit to September.
- The US President has also said that he would like to include India, Russia, South Korea, and Australia in the meeting.
- The US president has also suggested that the Group of 7 be called “G10 or G11” accordingly.
- It has acknowledged the fact that such an expanded forum would be in keeping with the emerging realities of the post-COVID-19 world.
- It has said that it would be happy to work with the US and other countries to ensure the success of the proposed summit.
India, which is also likely to be elected for the non-permanent member’s seat at the UN Security Council in New York, will be at the global high table next month.
And expansion of G7 appears in line with India’s thinking that India deserves a place at the global decision-making bodies.
- It is an intergovernmental organization that was formed in 1975 by the top economies of the time as an informal forum to discuss pressing world issues.
- The G-7 does not have a formal constitution or a fixed headquarters.
- The G-7 or ‘Group of Seven’ are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
- Canada joined the group in 1976, and the European Union began attending in 1977.
- The G-7 was known as the ‘G-8’ for several years after the original seven were joined by Russia in 1997.
- The Group returned to being called G-7 after Russia was expelled as a member in 2014 following the latter’s annexation of the Crimea region of Ukraine.
- The G-7 nations meet at annual summits that are presided over by leaders of member countries on a rotational basis.
- The summit is an informal gathering that lasts two days, in which leaders of member countries discuss a wide range of global issues.
- The host country typically gets to invite dignitaries from outside the G-7 to attend the Summit.
- The groundwork for the summit, including matters to be discussed and follow-up meetings, is done by the “Sherpas”.
- Sherpas are generally personal representatives or members of diplomatic staff such as ambassadors.
- The decisions taken by leaders during annual summits are non-binding.
- Initially formed as an effort by the US and its allies to discuss economic issues, the G-7 forum has deliberated about several challenges over the decades.
- It included issues such as the oil crashes of the 1970s, the economic changeover of ex-Soviet bloc nations, and many pressing issues such as financial crises, terrorism, arms control, and drug trafficking