G-7 & G-20 Summit Maansarovar Notes

G-7 SUMMIT 2023 HIROSHIMA (JAPAN)

G-20 SUMMIT 2023 NEW DELHI (INDIA)

The Group of Seven (G - 7) and the Group of Twenty (G - 20) are informal governance clubs which holds annual Summits of Head of the states /Head of Governments to discuss issues of Global Importance.

G-7 is an informal grouping of seven of the world’s advanced economies –Canada, France, Germany, Italy, Japan, Britain & USA. In addition, European Union (EU) is a non- enumerated i.e., non-mentioned member. India is not its member. G-7 was formed on 25th March 1973, and its first summit was held on 15th Nov 1975.

G-20 or Group of Twenty is an intergovernmental forum comparing 19 Countries & European Union (EU). G-20 was founded in 1999 to bring together systemically important industrialized developed and developing economies to discuss key issues in global economies. India is one of its member.

49th G-7 Summit

49th G-7 Summit was held from 19-21st May, 2023 in Hiroshima city of Japan. The meeting was attended by G-7 core members that are – Japan, Canada, France, Germany, Italy, United Kingdom, United States as well as European Union as non-enumerated (non-mentioned) member.

G-7 was attended by International Organization such as International Energy Agency (IEA), International Monetary Fund (IMF), UN, World Bank, WHO, WTO etc. India participated as one of the invitee and Ukraine as guest country. The meeting was hosted by Mr. Fumio Kishida – Prime Minister of Japan. Indian Prime Minister Narendra Modi represented India in G-7

G-7 summit is held annually and has a rotating presidency. For 2023, presidency is with Japan. 2024 Summit will be held at Apulia (Italy) under the presidency of Italy.

Leaders of G-7 countries discussed a number of challenges to peace and prosperity facing the global order while consulting with invited guests. As the situation of Russian invasion of Ukraine has shaken the very foundation of international order, the world is facing the multiple crisis, including climate crisis, pandemic and geo-political crisis. To counter these crisis, G-7 affirmed to uphold the free and open international order based on “the rule of law” and strengthened the G-7’s outreach to emerging and developing countries

There are many comments on this summit that Volodymyr Zelenskyy got a lot of attention and domination, as well as there is an evaluation of fruitful achievements

Throughout the sessions, the leaders emphasized cooperation, “the rule of law”, and the transition to a clean energy economy. They called for guidelines on artificial intelligence and expressed concern over Russia’s aggression in Ukraine. The leaders discussed strengthening engagement with emerging countries, supporting the G20, and addressing issues like poverty and energy transition. Economic resilience and security were discussed, along with the challenges and opportunities of artificial intelligence. The leaders highlighted the importance of coordinated responses to crises related to development, food security, health and gender equality. Climate change, energy, and environmental issues were addressed, with an emphasis on pursuing net – zero emissions and enhancing clean energy supply chain resilience. Throughout the summit, the leaders reaffirmed their commitment to the free and open international order, called for nuclear disarmament, and discussed the need to reform the United Nations

THE G-20 (GROUP OF 20)

The G20 is a strategic multilateral platform connecting the world's major developed and developing economies. The G20 holds a strategic role in securing future global economic growth and prosperity. Together, the G20 members represent more than 80 percent of world GDP, 75 percent of international trade and 60 percent of the world population.

Starting in1999 as a meeting for the finance minister and central bank governors, the G20 has evolved into a yearly summit involving the Head of State and Government. The working groups, and special events are also organized throughout the year