50th Group of Seven (G7) Summit Concludes | Current Affairs | Vision IAS
MENU
Home

Periodically curated articles and updates on national and international developments relevant for UPSC Civil Services Examination.

Quick Links

High-quality MCQs and Mains Answer Writing to sharpen skills and reinforce learning every day.

Watch explainer and thematic concept-building videos under initiatives like Deep Dive, Master Classes, etc., on important UPSC topics.

ESC

The summit was hosted by Italy. 

  • India also participated in the G7 outreach session on Artificial Intelligence, Energy, Africa and Mediterranean. 

Key Outcomes

  • Launched G7 Apulia Food Systems Initiative (AFSI): Aims is to intensify efforts to overcome structural barriers to food security and nutrition.  
  • Partnership for Global Infrastructure Investment (PGII): Mobilize up to USD 600 billion through the PGII by 2027. 
    • PGII is joint initiative of G7 countries to help fund infrastructure projects in developing countries through public and private investments
  • Artificial intelligence: Announced to develop a brand to support the implementation of the International Code of Conduct for Organizations Developing Advanced AI Systems.

About G7 Summit

  • An informal forum that brings together Italy, Canada, France, Germany, Japan, United Kingdom, and the United States of America.
  • European Union also participates in the Summit. 
  • Established as a platform for economic and financial cooperation in response to the 1973 energy crisis.
    • First Summit was held in 1975.
  • Expanded into the G8 between 1997 and 2013, with the inclusion of Russia. However, Russia’s participation was suspended in 2014 following the annexation of Crimea.
  • Does not have a permanent administrative structure.

Relevance of G7

  • Their collective economic power allows them to shape global economic policies, coordinate financial regulations, and address economic challenges such as trade imbalances, currency stability, and financial crises.
  • Launched PGII in response to China’s Belt and Road Initiative (BRI).
  • Played a key role in the creation of international financial institutions like the Financial Action Task Force (FATF).
Watch Video News Today

Explore Related Content

Discover more articles, videos, and terms related to this topic

RELATED VIDEOS

1
Role of Indian Diaspora in Making India Self-Reliant

Role of Indian Diaspora in Making India Self-Reliant

YouTube HD
Title is required. Maximum 500 characters.

Search Notes

Filter Notes

Loading your notes...
Searching your notes...
Loading more notes...
You've reached the end of your notes

No notes yet

Create your first note to get started.

No notes found

Try adjusting your search criteria or clear the search.

Saving...
Saved

Please select a subject.

Referenced Articles

linked

No references added yet