G7 WOOS INDIA
New Delhi: The world’s powerful nations stood united at the G7 Summit, hosted by Italian Prime Minister Georgia Meloni at the Apulia region from June 13-15, in the backdrop of ongoing confrontations in Europe and the Middle East. India participated as a special invitee for the 11th time and Prime Minister Narendra Modi for the sixth time.
The forum, started by eight western rich industrialised countries for economic policy coordination in the early ’70s with the first summit meeting at the Chateau de Rambouillet in 1975, comprised countries which dominated the world economy. From G8 it became G7 following the suspension of Russia after it annexed Crimea about a decade back. The group of nations comes from an age when Russia used to be a communist superpower and ironically China, a poor country then, is now a factor of great concern for the West.
In the current global scenario when turbulence across the world does not evoke shock, the forum which certainly wanted to retain the edge in the world economy, realised that the centre of gravity of the world economy was changing dramatically, especially since 2000. For instance, India itself has made significant strides, from fifth position it is striving to be the third largest economy in the world.
The G7 countries also realised that for crucial issues like macro economic stability, climate change, energy transition and even global health issues which impact the economy, India and China have become indispensable for any solution.
However, with increasingly competitive relations with China and open adversarial relations with Russia, what is the best option before it now? “So, they are trying to use the G7 outreach to gain cooperation from India and other major players of the Global South,” explains Ranjan Mathai, India’s former Foreign Secretary.
India fulfils G7 conditions of a country that is not only democratic but is also an emerging advanced industrialised nation. The G7, therefore, feels that India is a logical player.
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