G7: Source

Source: TH Why in News? Recently, the Prime Minister attended the annual G7 summit held in Italy from 13 to 15th June 2024. This summit marked the 50th anniversary of the group. This is his first foreign trip after assuming office for the third straight term. What are the Key Highlights of the 50th G7 Summit in Italy? Promotion to G7 PGII (Partnership for Global Infrastructure and Investment): In the 50th G7 Summit, leaders decided to promote concrete G7 PGII (Partnership for Global ... The 51st G7 Summit will be held from June 15 to 17, 2025, in Kananaskis, Alberta, Canada, marking the summit's 50th anniversary. As the host nation, Canada aims to foster collaborative dialogue on key global concerns like climate change, economic stability, digital transformation, and geopolitical peace. However, this year's summit sees a notable development — India will not participate for the first time in six years, reportedly due to strained diplomatic ties with Canada. How does the G7 influence the world? While G7 itself doesn’t have the power to create or enforce policies or laws, it consists of some of the world’s most influential countries. When these nations come together to discuss ideas and coordinate actions on trade, security, climate change, and more, there’s an impact. Here are some examples of where the G7 has influence: The global economy The countries in the G7 make up a huge slice of the global economy, including trade, global GDP ... Group of Seven ( G7 ), intergovernmental organization that originated in 1975 through informal summit meetings of the leaders of the world’s leading industrialized countries (the United States, the United Kingdom, France, West Germany, Italy, Canada, and Japan). Canada did not attend the initial meeting in 1975, and the president of the European Commission joined the discussions in 1977. Beginning in 1994, Russia joined the discussions, and the group became known as the Group of 8 (G8) or ...