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The G7 countries have together a population of about 780 million people (or almost 10% of the world population), comprise around 50% of worldwide nominal net wealth and as of 2024 about 30% of world GDP (as by purchasing power parity) and more than 44% of nominal gross domestic product. [12] [13] [14]
The European Union (EU) is a member of the G7 (the G8, until Russia was uninvited in 2014).It has been dubbed its "8th member", [1] holds all the privileges and obligations of membership but without the right to host or chair a summit. [2]
Following the summit media in India widely reported on Indian PM's address to G7. However, no address transcript, video or audio was released publicly. A sitting MP from the ruling party itself raised objection to this omission. [ 62 ]
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BRICS is an intergovernmental organization consisting of ten countries—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. It is considered to be a counterpart and alternative to the G7 bloc of the world's largest economies and combined represent nearly half [ 2 ] of the world's population.
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In the article he endorsed the Atlantic Council initiative and subsequent Donald Trump administration proposal to expand the G7 into a larger group of democracies that will be known as the D-10, with the addition of Australia, India [3] and South Korea, [4] as "most urgent for questions of trade, technology, supply chains, and standards." [5]
G7 summit meetings originated in an ad hoc gathering of finance ministers in 1973. Meetings of finance ministers, labour and employment ministers, environment ministers, foreign ministers and trade ministers and other ad hoc ministerial meetings [ 1 ] have taken place within the country designated for the annual G7 or G8 summit.