Read basics about G7 from Prelims Notes.
Context:
India participated as a guest in 2021 G7 Summit held in UK.
Challenges and Concerns:
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Disagreements among members:
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Internally the G7 has a number of disagreements, e.g. clash of the USA with other members over taxes on imports and action on climate change.
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The organisation has also been criticised for not reflecting the current state of global politics or economics.
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Not Representative:
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There are no G7 members from Africa, Latin America or the southern hemisphere.
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It is also facing a challenge from fast-growing emerging economies, like India and Brazil are not members of the G7.
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However, G-20 was formed in 1999, in response to a felt need to bring more countries on board to address global economic concerns.
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India and G-7
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Previous Participation:
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The participation of India at the 45th summit in Biarritz, France, in August 2019 is a reflection of deepening strategic partnership and recognition of India as a major economic power.
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India was also invited for the 2020 summit hosted by the USA which could not take place due to the pandemic.
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Previously India had attended the G-8 summit (it became G-7 from G-8 with the expulsion of Russia in 2014) five times between 2005 and 2009.
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Important Platform for Deliberations:
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India’s ability to safeguard its core sovereign concerns such as trade, Kashmir issue and India’s relations with Russia and Iran can be discussed with G7 members.
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Taking on Global Stage:
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India raised issues on climate change and at meetings which signalled India’s growing willingness to lead on issues that are points of contention for countries like China and the USA.
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Significance of India at G7:
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As current president of Brazil-Russia-India-China-South Africa (BRICS) and G20 president in 2023, India will play a key role driving in multilateral cooperation helping to build back better around the world.
Significance of 2021 G7 Summit:
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A joint statement on Open Societies was adopted. The statement reaffirms and encourages the values of freedom of expression, both online and offline.
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Indian Participation shows it is a natural ally of the G-7 and its partners. Laying emphasis on shared democratic values that bind India with the West shows a greater willingness to cooperate with India.
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The summit can be seen as the beginning of institutionalization of India’s cooperation with the West.
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The joint statement on open societies shows a willingness to construct an alliance of democratic countries. This can be leveraged as a common platform to counter China’s assertiveness over India and the western countries.
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It also shows the revived importance of the grouping in comparison to the G20.
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The revival has been on account of China’s rise in the global economic order and rising U.S-China and U.S-Russia rivalry.
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India has called for a “one earth, one health” approach. It aims for unity and solidarity among the states of the world to deal with the pandemic.