G7 Summit: Today (14 May) the leaders of the 7 biggest countries have arrived in Italy. The meeting of the biggest organization of richest countries “G7” is being held here in which our (India) Prime Minister is also participating as the Chief Guest.
For your information, let us tell you that Italian Prime Minister Georgia Meloni had sent him the invitation to the summit even before the Lok Sabha elections. Even before this, Modi has been a part of the G7 Summit. India first participated in this summit in 2003. At that time, the then Prime Minister Atal ji had reached France. India is not a part of this organization, but still, why was PM Modi invited to this meeting? Can India also become a part of this club?
G7 Summit: Why was this organization of G7 formed?
In 1973, there was a war going on between Israel and Arabs in the Middle East. Meanwhile, the President of America, Nixon, had decided to give economic aid of Rs 18 thousand to help Israel. Saudi Arabia, which supported Palestine, was very angry at this at that time, due to which they decided to take revenge not only from America but also from all the Western countries that were supporting Israel.
King Faisal of Saudi Arabia called a meeting of oil-producing countries which was named OPEC. And all these countries together decided that they would reduce the production of oil and the same happened, as in 1974 there was a huge shortage of oil in the world. Due to this, the rate of oil increased by 300 percent. It affected America and rich countries the most.
Upset by all this, all these countries came together and formed the G6 Summit i.e. “Group of Six”. These included Germany, Japan, Italy, America, France and Britain. In 1976, Canada also became a part of this Summit.
What does the G7 Summit do?
In the first meeting, the G7 Summit made a plan to deal with the oil crisis. At the same time, the exchange rate crisis also started. To solve such problems, all the Western countries formed this organization. This meeting is held every year so that they can solve business and trade matters among themselves. They discuss issues related to the country’s politics and economy.
Can India also become a part of this organization?
India has participated in this summit 11 times. For the last 5 years, India has been invited as a guest, due to which sometimes it seems that India is a permanent member of G7.
Try to Understand this by this small Incident that took place in 2007
In 2007, when this meeting was to be held in Germany, Germany invited India with immediate effect. At that time, there was a UPA coalition government in the country, which was led by Prime Minister Manmohan Singh. India did get the invitation, but since they went there as guests, they were allotted time to present their country’s point of view, due to which Manmohan Singh got angry and said that he would not attend the summit. After which Garman was forced to extend the deadline.
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