Source: NDTV
Context: Prime Minister of India will attend the 52nd G7 Summit in Kananaskis, Canada from June 15–17, 2025, following an invite from Canadian Prime Minister.
- India has attended the G7 as a special invitee since 2019.
About 52nd G7 Summit:
- What is G7?
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- G7 is an informal intergovernmental group of the seven richest democracies.
- It discusses major economic and geopolitical challenges.
- It is not a treaty-based body and has no permanent secretariat.
- When Was It Launched?
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- Formed in 1975 as the Group of Six (France, Germany, Italy, Japan, UK, USA).
- Canada joined in 1976, making it the G7.
- Current Members:
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- USA, UK, France, Germany, Italy, Japan, Canada
- European Union participates as an invitee (non-member).
- History and Evolution:
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- 1970s: The G7 was formed in response to the global oil crisis to enable the world’s top economies to coordinate macroeconomic strategies.
- 1980s: It expanded its agenda to address geopolitical concerns, including arms control, global security, and human rights violations.
- 2000s onward: G7 began engaging with developing nations, emphasizing issues like climate change, financial inclusion, and digital transformation.
- 1998–2014: Russia joined to form the G8, but was removed post-Crimea annexation, signalling a return to G7’s democratic alignment.
- Key Functions of G7:
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- Macroeconomic Coordination: G7 provides a platform for the world’s advanced economies to stabilize markets, reduce inflation, and ensure fiscal discipline.
- Global Issue Response: It drives action on global crises—like climate change, AI regulation, cybersecurity threats, and public health emergencies.
- Democracy and Development: Promotes liberal democratic values, gender equity, and sustainable development across partner countries.
- Donor and Policy Signalling: Acts as a key forum for aligning donor priorities and signalling coordinated global policy shifts to international institutions.
