The 1960s were a period of restlessness. The anti-Vietnam war protests and civil rights agitation made the Lyndon Johnson administration uneasy. It was in this backdrop that Johnson came to Michigan on May 22, 1964 to deliver his ‘Great Society’ speech.

Johnson quoted Greek philosopher Aristotle to talk about how to create prosperity. “The Great Society” he said, “rests on abundance and liberty for all. It demands an end to poverty and racial injustice, to which we are totally committed in our time. But that is just the beginning.”

The previous decade had seen the arrival of the Non-Aligned Movement (NAM) that mobilised the decolonised societies. With the upswing in domestic disturbances in the U.S. it was obvious that the U.S. that had provided loans and economic assistance after the Second World War would no longer be able to provide leadership to the global north on its own and that it would require support from the partner countries in the West. As the decolonisation gathered speed, there was a greater need for the Global North to team up. Thus was born the idea of reviving the Global Economic Governance in favour of the industrialised economies out of which would emerge the Group of Seven (G7) in the following decade.

The Global Economic Governance (GEG) had been fashionable since the beginning of the Bretton Woods system but after nearly a decade of unrest in western societies, a definite push came in 1973 when the Yom Kippur war and hostilities between the Arabs and Israel triggered the first oil shock. The oil shock highlighted that the emerging order would challenge the domination of the western world.

In this backdrop, the first World Economic Summit was organised by French President Giscard d’Estaing and West Germany’s Chancellor Helmut Schmidt in 1975 who invited the leaders of the U.K., Italy, Japan and the U.S. for a meeting at the Chateau de Rambouillet in France. It began as the Group of Six and in 1976, Canada joined the grouping, making it the G7. The economic and financial crises of that time provided the G7 the agenda for the foreseeable future as it came to be known as a platform of industrialised countries for dealing with financial challenges.

Beyond economy

The 1970s were the decade of the New International Economic Order (NIEO) under which the Global south under the leadership of the Group of 77 and NAM demanded the establishment of a new economic order. Under this system, developing nations pushed for a transformation of global financial institutions such as the World Bank and the International Monetary Fund to deal with the requirements of the newly decolonised economies of Asia, Africa and Latin America. These demands, however, had to be adjusted against the overall power dynamics between the two superpowers, the U.S. and the Soviet Union.

The G7 started playing a bigger role beyond pure economic issues during the 1980s when it provided a platform to industrialised countries to coordinate response to major conflicts that threatened to interrupt global supply chains. First was the Soviet invasion of Afghanistan, which was followed almost simultaneously by the hostilities between the U.K. and Argentina over the Falkland islands and the Iran-Iraq war. It also played an active role in dealing with various sides for the Lebanese civil war. In 1982 when Israel invaded Lebanon, the G7 expressed shock on Israel’s actions. On the Falklands dispute, however, it supported the U.K. and warned about controlling the conflicts in the West Asian region as they could spill into larger disruption of energy and navigation.

Through coordination among the major economies, G7 for the first time in 1990 showed that it had acquired the ability to put economic pressure to a country that refused to abide by the norms of the international order. As Saddam Hussein prepared to invade Kuwait in August 1990, the G7 convened a meeting in Houston and ensured that Hussein would not profit from forcibly acquiring the energy wealth of Kuwait. By handling a range of conflicts in the 1980s, G7 evolved from the strictly an economic platform to a strategic international mechanism that could play a greater role in maintaining the status quo and avoid shocks and disruptions to the system.

The end of the Cold War provided the G7 with the major opportunity to reinvent itself and this it did by opening its doors to Russia. Already during the Iraqi crisis of 1990-91, G7 had succeeded in getting the USSR on board. The new equation with the USSR was made evident with the arrival of Mikhail Gorbachev to the G7 London summit on July 14-16, 1991.

Following the dissolution of the USSR, the G7 invited Russian President Boris Yeltsin on multiple occasions, indicating a deeper integration of post-Soviet Russia into the international financial architecture. During this period, the G7 also helped Russia deal with the demands for transition by supporting it with an economic package. In 1998, Russia formally joined the grouping, transforming it into G8.

France summit

The G7’s most visible role in recent years has been in opposing Russia’s military campaign in Ukraine. Following Russia’s annexation of Crimea in 2014, G8 expelled Russia reverting the grouping to its earlier avatar of G7. That apart, the grouping has emerged as a forum for important discussions in dealing with issues that are global in nature and require a collective action.

Among the issues that the G7 has prioritised are climate change, pandemic preparedness, energy security, critical minerals and preservation of supply chains. In order to address these vital issues, the G7 has welcomed participation by other important countries such as India, Egypt, South Africa, Brazil, South Korea, Ukraine and the UAE to its summit meetings and consultations.

In 52nd G7 summit, held in France on June 15-17, Prime Minister Narendra Modi had participated. Among the topics discussed at the summit were the Ukraine war, the U.S.-Iran deal, global economic imbalances, Artificial Intelligence and debt burdens in the developing countries.

As the world deals with major supply chain disruptions and uncertainties following the eruption of the U.S.-Israel war against Iran and the closure of the Strait of Hormuz, the G7, with its permanent guest European Union, has provided an additional mechanism to discuss difficult issues, often providing its high power table to dissect policies that are relevant to the world order.

This informal meeting allows the global leaders a much required interaction that is not possible within the confines of the UN. While the world has gone through the Cold War and post-Cold War phases, the G7 remains a continuity as it maintains the globalised economic structure without allowing cracks to spread.

Published – June 21, 2026 01:26 am IST

U.S. President Donald Trump speaks to Italian Prime Minister Giorgia Meloni on the sidelines of the G7 Summit in Evian-les-Bains, France, on June 17, 2026. Photo: Italian Prime Ministry/Handout via Reuters

European Council President Antonio Costa, Italy’s Prime Minister Giorgia Meloni, South Korea’s President Lee Jae Myung, Egypt’s President Abdel Fattah al-Sisi, Britain’s Prime Minister Keir Starmer, U.S. President Donald Trump, Kenya’s President William Ruto, France’s President Emmanuel Macron, Japan’s Prime Minister Sanae Takaichi, India’s Prime Minister Narendra Modi, Canada’s Prime Minister Mark Carney, Germany’s Chancellor Friedrich Merz, European Commission President Ursula von der Leyen and Brazil’s President Luiz Inacio Lula da Silva gather for a group photo at the G7 summit on June 16, 2026, in Evian-les-Bains,
| Photo Credit:
AP

G7 leaders will discuss on Wednesday (June 17, 2026) the security risks posed by AI and social media on the last day of a summit dominated by Donald Trump, before host French President Emmanuel Macron dines with his U.S. counterpart at the Palace of Versailles. The day will begin with a working session on “Reviving balanced, inclusive and sustainable economic growth for the benefit of all”.

The three-day summit of the leaders of Canada, France, Germany, Italy, Japan, Britain and the United States has focused intensely on Trump’s deal to end the war with Iran and efforts to pressure Russia into brokering peace with Ukraine. But on Wednesday, the digital sphere will take centre stage.

Also read: Modi holds talks with Canada’s Carney, aims to visit Canada by year end, sign trade deal soon

Prime Minister Narendra Modi on Tuesday (June 16, 2026) expressed concern over the impact of disruptions in maritime trade through the Strait of Hormuz on the global economy during the conflict in West Asia and said several Indian civilians lost their lives. 

Also read: G7 Summit Day 1 highlights: PM Modi voices concern on maritime trade impact due to Hormuz disruptions, says several Indians lost their lives during West Asia conflict

President Donald Trump on Tuesday said the U.S. will soon be able to reimpose sanctions against Russian oil, at the G7 summit where leaders are seeking to ratchet up pressure against Moscow over its invasion of Ukraine. G7 leaders agreed on Tuesday (June 16, 2026) to intensify pressure on Russia to end more than four years of war against Ukraine, with U.S. President Donald Trump saying Moscow should “make a deal”. 

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Canadian Prime Minister Mark Carney, left, meets with Prime Minister of India Narendra Modi, during the G7 summit in Evian-les-Bains, France on June 16, 2026.
| Photo Credit: AP

Prime Minister Narendra Modi arrives in Evian, France on June 16, 2026. Photo: X/@narendramodi via PTI

President Donald Trump waves to reporters as he arrives for the G7 summit, Monday, June 15, 2026, in Evian-les-Bains, France.
| Photo Credit:
AP

Leaders at the Group of Seven summit of major industrialised nations face a packed agenda on their first full day on Tuesday (June 16, 2026), including challenging discussions on ending Russia’s war in Ukraine and addressing the West Asia crisis. Ukrainian President Volodymyr Zelenskyy will be in attendance at the invitation of host France.

Also read | Will voice Global South’s aspirations in G7 summit, says PM Modi ahead of trip to France, Slovakia

The Ukraine talks come on the heels of U.S. President Donald Trump’s announcement of an agreement to end the U.S. war against Iran. European leaders will warn Mr. Trump at Tuesday’s (June 16, 2026) G7 summit that a superficial interim ‌Iran deal risks entrenching Tehran’s nuclear and ballistic missile programmes, while also pressing him to rethink his Ukraine strategy.

Also Read | Modi expected to meet Trump on the sidelines of the G7 summit in France

The June 15 to 17 gathering in Evian-les-Bains, on the shores of Lake Geneva, ⁠brings together the leaders of France, Britain, Canada, Germany, Italy, Japan and the United States, alongside the European Union.

Leaders at the Group of Seven summit of major industrialised nations face a packed agenda on their first full day on Tuesday (June 16, 2026), including challenging discussions on ending Russia’s war in Ukraine and addressing the West Asia crisis. Ukrainian President Volodymyr Zelenskyy will be in attendance at the invitation of host France.

The Ukraine talks come on the heels of U.S. President Donald Trump’s announcement of an agreement to end the 3 1/2-month-old U.S. war against Iran. In recent weeks, the Iran conflict has overshadowed the war in Ukraine that Russian President Vladimir Putin launched more than four years ago.

Mr. Trump said he had good conversations on Sunday with both Mr. Zelenskyy and Mr. Putin. “Now that this (Iran) is finished, we’re going to be focusing on that,” he said, speaking during a bilateral meeting on Monday with French President Emmanuel Macron.

Mr. Macron said he’ll seek to persuade Mr. Trump to continue supporting Ukraine and increase pressure on Russia to help reach a peace agreement. Hours before the start of the G7 summit, Russia fired hundreds of drones and dozens of missiles at Ukraine’s biggest cities in a barrage that killed 11 people and set fire to a religious landmark.

Tuesday’s discussions in the French spa town of Evian-les-Bains also include a work session focused on “ending crises and ensuring stability in the Middle East.” Leaders of Egypt, Qatar and the United Arab Emirates are to join the talks.

Mr. Trump has been frustrated by a lack of movement toward Ukraine-Russia resolution

The attacks on Ukraine’s biggest cities came after Mr. Zelenskyy and Mr. Putin spoke separately by phone with Mr. Trump on Sunday, the U.S. leader’s 80th birthday. The exchange suggests Washington hasn’t given up on its diplomatic efforts to stop the fighting that followed Moscow’s all-out invasion of its neighbor in 2022.

“The right negotiation is one in which Ukraine and Russia are at the table, but with Europeans and Americans present as well,” Mr. Macron said on French television.

While campaigning for a return to the White House, Mr. Trump claimed he could end the Russia-Ukraine war within 24 hours of taking office. He has since acknowledged it has proved much harder than he initially thought it would be.

EU membership negotiations

Ukraine on Monday officially started European Union membership negotiations, launching a process that will require its government to commit to years of political reforms even as it fights a Russian invasion.

Ukraine sees EU membership as a security guarantee for a stable future once the war ends. Its best guarantee would be membership in the NATO military alliance, but the Trump administration insists that cannot happen, and others are wary of it joining while the war continues.

Iran flashpoint between Trump and Europe

In recent months, Mr. Trump has had sharp disagreements with Mr. Macron, British Prime Minister Keir Starmer, German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni over his failure to consult them before the decision to go to war in Iran. Mr. Trump has threatened reprisals, including drawing down U.S. troops in all four countries, all members of the NATO military alliance, for their lack of support.

Despite those disagreements, the tone in Evian should be rather measured, as U.S. allies seek rapid progress that could ease the economic impact of rising oil prices caused by the blockade of the Strait of Hormuz.

“I think a lot of great things are going to happen in the Middle East right now, and very importantly the oil is plummeting down and the stock market is shooting up like a rocket today,” Mr. Trump said.

Ahead of their meeting at the G7, the leaders of France, Germany, Italy and the United Kingdom issued a joint statement congratulating the United States, the Iranian government and the mediators on what they called a “diplomatic breakthrough.” Canada also signed the statement. The leaders said it was vital for detailed negotiations to take place and for the deal to be quickly implemented so the Strait of Hormuz can be reopened to tanker traffic.

Mr. Macron later said France and other Western partners are “ready to take action very quickly” to help reopen the strait peacefully. France and Britain have championed a mission to restore maritime security in the strait as soon as conditions allow.

Mr. Trump, however, appeared to downplay the need for a large international military deployment. “I don’t think we’re gonna need much help,” he said during his meeting with Macron. “But I don’t think it’s a bad idea to have a ship or two up here from a few countries. You’d be a great country to do it.”

What’s next on the agenda

On Tuesday, in addition to a working session that includes Mr. Zelenskyy, Mr. Trump will participate in meetings that include sit-downs with the emir of Qatar and the president of the UAE before attending a cultural performance and a dinner with the other G7 leaders.

The G7 includes France, the United States, Canada, Germany, Italy, Japan and the United Kingdom. Other guest nations at this summit including Brazil, India, Kenya and South Korea were invited to participate in some discussions as partner countries alongside G7 members.

Published – June 16, 2026 10:32 am IST

Demonstrators hold a banner and a flare, during a protest against the upcoming G7 summit in Evian-les-Bains in France, in Geneva, Switzerland, on June 14, 2026.
| Photo Credit: Reuters

Police officers walk past a shop with windows boarded with wooden panels bearing graffiti that reads “peace is an investment in the future” ahead of a demonstration against the upcoming G7 summit in Evian-les-Bains, Geneva on June 13, 2026.
| Photo Credit: Reuters

PM Modi arrives in Nice, France, on June 13, 2026, to hold talks with French President Emmanuel Macron and attend the G7 summit. Photo: www.narendramodi.in/