What the G7 meet accomplished:

GS Paper 2

Syllabus: Bilateral, regional and global grouping.

Context:

• According to its 12,000-word communiqué, the G7 has issued four other statements as well — on democracy (together with the guest countries), Ukraine, global food security, and the creation of a climate club.
• Taken together, this summit outcome looks weighty, even impressive.
• The G7 invited “guests”, top leaders from five countries — Argentina, India, Indonesia, Senegal, and South Africa — in a studied nod to the global south.
• Its adversaries and competitors Russia and China were not present.

G7 Leaders’ Communiqué: Key Highlights:

• Russia’s war of aggression against Ukraine: The statement condemned Russia’s illegal and unjustifiable war of aggression against Ukraine.
  • It resolved to stand with Ukraine for as long as it takes, providing the needed financial, humanitarian, military, and diplomatic support in its courageous defence of its sovereignty and territorial integrity.
• Severe and enduring costs on Russia: G7 members will continue to impose severe and enduring costs on Russia to help bring an end to this war.
  • In this regard, the official communique endorsed the ambitious and untried concept that seeks price caps on Russian oil.
  • Leaders also agreed on a ban on imports of Russian gold.
• Ensuring food security around the globe: The participating leaders pledged to spend $4. 5 billion this year to help ensure food security around the globe.
  • To protect people from hunger and malnutrition, and in response to Russia’s weaponization of grain, G7 leaders decided to increase global food and nutrition security through the Global Alliance on Food Security.
• On China’s ‘market-distorting’ practices: G7 leaders condemned China’s non-transparent and market-distorting international trade practices.
  • The G7 leaders signalled that they would seek to extricate themselves from economic dependence on China.
• Partnership for Global Infrastructure and Investment
  Through its Partnership for Global Infrastructure and Investment, G7 countries aim to mobilize USD 600 billion over the next five years to narrow the global investment gap.
• Global cooperation: G7 members decided to step up their cooperation globally, including through working towards new Just Energy Transition Partnerships with Indonesia, India, Senegal and Vietnam, building on the existing partnership with South Africa.
• COVID-19: To overcome the current COVID-19 pandemic, G7 will build on its provision of over 1.175 billion vaccine doses since the last meeting in 2021.
  • G7 countries also decided to prevent, prepare, and respond to future pandemics and health challenges including through the G7 Pact for Pandemic Readiness.

India at G7 Summit

• Although India is not a member of G7, it was called as a guest to attend the summit.
• At the G-7 summit in Germany, PM Modi participated in two sessions on:
  • Investing in a Better Future: Climate, Energy, Health and
    Food security
  • Resilient Democracies document signed:
    • Through this statement, the participating countries expressed their commitment to guard the freedom, independence and diversity of civil society actors and protect the freedom of expression and opinion online and offline.

Key highlights:

Insta Links:

G7

Practice Questions

Q. What is G7? Discuss its significance in current geopolitics. (15M)

Q. Which of the following countries is/are part of the G20?

1. Brazil
2. Mexico
3. Saudi Arabia
4. China
5. Malaysia

Select the correct answer using the codes given below:

a. 2 and 3 only

b. 1, 2, 3 and 4 only

c. 1, 3 and 5 only

d. 1, 2, 3, 4 and 5

Ans: (b)

Justification:

Source: The Indian Express