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G7 Summit 2022

G7 Summit 2022- Relevance for UPSC Exam

G7 Summit 2022: Group of Seven Countries (G7) is a international grouping of developed countries. G7 is important for UPSC Exam as it is part of UPSC Mains GS Paper 2 (International Relations Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests).

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G7 Summit 2022 in News

  • Prime Minister Narendra Modi is in Germany to attend the Group of Seven (G7) Summit at Schloss Elmau, in the Bavarian Alps, Germany.
  • India hoped that rich countries of G-7 will support India’s efforts in combating climate change and invited them to tap the huge market for clean energy technologies emerging in the country.

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48th G7 Summit 2022

  • About: The Group of Seven (G7) is an inter-governmental political grouping consisting of Canada, France, Germany, Italy, Japan, the UK and the US.
    • G7 2022 Venue: 48th G7 Summit 2022 is being held in Germany which took upon the G7 chairmanship in January 2022.
  • Participation: Representatives of the European Union are always present at the annual meeting of the heads of state and government of the G7.
    • Germany has invited India, along with Argentina, Indonesia, Senegal, and South Africa to the 2022 Summit as partner countries.
    • Ukrainian President will also take part virtually on June 27 in G7 countries.
    • International Institutions like United Nations, the World Health Organization (WHO), the World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank, are also participating in the G7 Summit.
  • Focus Areas: In the G7 Summit 2022, the G7 leaders will focus on the topics such as partnerships for developing countries, global economy, sustainability, multilateralism, food security, and digital transformation.
  • Partnership for Global Infrastructure and Investment (PGII): It was launched in the 48th G7 Summit 2022.
    • PGII aims to mobilise nearly USD 600 billion from the G7 by 2027 to invest in critical infrastructure that improves lives and delivers real gains for all of our people.
  • Significance for India: Since 2019, this is also the 4th consecutive time that India has been considered to attend the G7 Summit.
    • The country has been often invited to G7 in a nod to its growing geopolitical influence which brings it a seat at the table where the world leaders decide important outcomes.

Digital Trade Principles by G7

 

About G7 Summit

  • History of G7 Grouping:
    • 1975: France hosted a summit which brought together representatives of six governments (G6): France, West Germany, Italy, Japan, the United Kingdom, and the United States.
    • 1976: Canada joined the G6 countries in 1976. So it was started being called as G7.
    • 1998: Russia was officially invited to join the grouping in the 1998 summit. Henceforth, it was called G8 grouping.
    • 2014: Following the annexation of Crimea by Russia in 2014, the group removed Russia from its membership. Since then it is called G7 grouping.
  • About: G7 Grouping is an informal bloc of advanced/developed/industrialized nations. G7 Countries meets annually to discuss matters such as global economic policy, international security, and energy policy, among others.
  • Member Countries: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States are currently the member of G7 grouping.
    • Representatives of the European Union are always present at the annual meeting of the heads of state and government of the G7.
  • G7 Presidency: G7 Presidency rotates annually among its members. Presently, Germany holds the presidency of G7 Summit 2022.

BRICS Summit 2022- Key Outcomes

BRICS Summit 2022- Key Outcomes

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