PM Modi in Italy for G7 Summit 2024 | UPSC Current Affairs 2024
Автор: NEXT IAS
Загружено: 2024-06-14
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India has been specially invited to attend the G7 meeting despite not being a member of the grouping.
Why has India been invited?
With a GDP of $3.94 trillion, India boasts an economy larger than four G7 members.
India plays a crucial role in the Indo-Pacific region countering Chinese dominance.
What is the G7 Summit?
The G7 originated from a 1973 meeting of finance ministers and central bank governors in Paris, France.
This meeting was convened in response to major economic challenges of at time – an oil crisis, rising inflation and collapse of the Bretton Woods system.
Currently its members include: France, United States, United Kingdom, Germany, Japan, Italy, and Canada, and the European Union.
How relevant is it today?
The G-7’s share of global GDP is around 47% and only five—the US, Germany, Japan, UK, and France are among the top 7 global economies, while Italy and Canada have been upstaged by China and India.
Get the latest UPSC current affairs as PM Modi attends G7 Summit in Italy 2024. Stay updated on the Italy G7 Summit with this #shorts
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