Context:

The United Kingdom has invited India to attend G7 Summit to be held in Cornwall in June 2021.

Explain G7

• The G7 (or Group of Seven) is an organization made up of the world’s seven largest so-called advanced economies: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
• It was for a while, known as the G8 as it also included Russia, but after their 2014 annexation of Crimea, they were booted out of the summit, reducing it to the G7.

Background

• The concept of a yearly forum for the world’s major industrialized countries emerged before 1973.
• However, its progress accelerated after the 1973 oil crisis, where the US convened an informal gathering of finance ministers from West Germany, France, and the United Kingdom ahead of a proper gathering.
  • G5: It later expanded to involve Japan to become the G5.
  • G6: Two years later in 1975, it included Italy, becoming the G6
  • G7: Canada joined in 1976 to create the G7.
  • G8: In 1998, years after the end of the Cold War, Russia was invited for the first time, marking a major turning point in world relations.
• This ended in 2014 after Russia annexed Crimea with the group returning to its previous G7 lineup.

Expansion of G7 to G11

• Expected Countries: Demands are arising to expand G7 to include India, Russia, South Korea, and Australia.
• Reason:
  • Having India and others in the G7 is considered a way of countering the rising influence of China on the world stage.
  • It will give US more leverage to influence the other nations.