PM TO ATTEND G7 OUTREACH MEETING
Just four days after being sworn in for a third term, Prime Minister Narendra Modi will travel to the Apulia region of Italy on thursday to attend the G-7 outreach meet.
IS THIS INVITATION FIRST OF ITS KIND?
This is the 11th time that India has been invited to the G-7 outreach, and the fifth that Mr. Modi will participate.
IS INDIA ONLY INVITED?
No. India will be among leaders of 12 countries invited to the outreach including
- Algeria,
- Argentina,
- Brazil,
- Egypt,
- Kenya,
- Mauritania,
- Saudi Arabia,
- South Africa,
- Tunisia,
- Turkiye, and
- The UAE
The Ukrainian President is also expected.
ABOUT G 7
ORIGIN OF G7 AND ITS PRESENT COMPOSITION
- The origin of G7 lies in the oil shocks of 1973 and the corresponding financial crisis.
- In order to address the situation after oil shock, the heads of the world’s six leading industrial nations decided to hold a meeting in 1975.
These six nations were – US, UK, France, Germany (West), Japan and Italy.
- These countries were joined by Canada in 1976 and G7 came into existence.
- In 1998, Russia was formally inducted in the group, which transformed G7 into G8. However, Russia annexed Crimea in 2014. As a result, it was suspended from the grouping. Hence, the group became G7 again in 2014.
- The European Union is also represented within the G7.
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