Why in the news?

  • Canada hosted the G-7 Foreign Ministers’ Summit.

G-7 Grouping

  • What is it?: The Group of Seven (G-7) is an informal bloc of advanced industrialised democracies.
  • Formation: Formed in 1975 as G-6 and became G-7 in 1976 with Canada’s entry.
  • Member Countries: USA, UK, France, Germany, Italy, Canada and Japan
  • Key Features:
    • No formal charter or headquarters.
    • Annual Summit hosted by member nations in rotation.
    • Decisions are non-binding but carry weight due to members’ economic power.
    • Members represent nearly 40% of global GDP.
    • G-7 Outreach is a mechanism that aims to engage emerging economies and Global South countries.
    • The European Union (EU) participates as a non-enumerated member.
  • India and G-7:
    • India is not a member Country, but engages with G-7 as a partnering country.
    • Engages in: Clean energy transition, Digital Public Infrastructure, Global Health and Rule based global order.
  • Russia and G-8:
    • Russia joined the grouping in 1998 making it G-8.
    • Following Crimea annexation in 2014, Russia’s membership got suspended, making the grouping G-7 again.