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

The story so far: Leaders of the Group of Seven, the U.S., Canada, Germany, France, Japan, the U.K. and Italy, met in Italy’s Apulia region from June 13-15, along with the European Union leadership, for a summit to discuss a host of issues. India has been invited to the outreach 11 times, with Prime Minister Narendra Modi attending it for the fifth time.

What was the G-7 summit hoping to achieve?

Bridging differences between the “West and the Rest”, finding new ways to fund support for the Ukraine war, investing in Africa and grappling with migration, climate change and artificial intelligence challenges, were all on the agenda for G-7 leaders. They agreed to make $50 billion more available for Ukraine, carving it out from frozen sovereign wealth funds of Russia, held a special “Energy for Growth in Africa” summit to spur investments in clean energy, attacked China for coercive trade practices, and met with leaders of 10 countries, including India, and multilateral organisations, as part of the “G-7 Outreach”, to discuss the concerns of the Global South. Apart from substantive issues, the G-7 grouping has also been trying to battle its own image, as a tired set of countries representing the old world of the ‘western elite’.

Editorial | New dynamics: On the G-7, its identity, its purpose

It was also widely commented upon that apart from Italian Prime Minister Giorgia Meloni, whose party did well in this month’s European Parliament elections, all other G-7 leaders are battling tough election campaigns with sagging approval ratings.

How important is India to the G-7 process?

India has been an important part of the G-7 process for several years now, coming to the grouping’s attention in the 2000s for its steady growth figures during the global financial collapse. India is not only a key member of the Global South, and has hosted the “Voice of Global South” conference since 2023, it is also a member of the G-20 troika, along with Brazil and South Africa. Besides, Prime Minister Modi is a central figure at such outreaches, though India is not a member of the G-7.

Other countries whose leaders attended the outreach were Algeria, Argentina, Brazil, Jordan, Kenya, Mauritania, Tunisia, Türkiye and the United Arab Emirates, along with heads of the African Development Bank, the International Monetary Fund, the Organisation of Economic Co-operation and Development (OECD), the United Nations and the World Bank.

Is it an important platform for India?

For India, the outreach session of the G-7 meeting, that follows a day after the main G-7 deliberations, has always been an important platform to showcase its achievements and outlook to the world. The importance of the event and India’s participation can be gauged from the fact that Ms. Meloni called Mr. Modi during the election campaign to ensure his participation, and he travelled to Italy just four days after his swearing-in and even before he had proven his majority in Parliament. During the outreach session, Mr. Modi spoke about the importance of the Indian elections, which he called the “victory of the democratic world”, and the importance of harnessing technology and artificial intelligence to bridge global inequality, as well as a roadmap to fight climate change. He said it was important to pay heed to the Global South’s concerns, as it bears “the brunt of global uncertainties and tension”, a reference to how the developing world looks at unilateral sanctions as well as food, fertilizer and energy security. Mr. Modi spent most of his time in bilateral meetings and held talks with U.K. Prime Minister Rishi Sunak, French President Emmanuel Macron, German Chancellor Olaf Scholz, Japan Prime Minister Fumio Kishida and Ms. Meloni. He also met with Ukraine President Volodymyr Zelenskyy, who was a special invitee, and after the photo-op with all the leaders, he spent a few minutes with U.S. President Biden.

He released a less cordial photo of his exchange with Canadian Prime Minister Justin Trudeau, reflecting the poor state of bilateral ties, but the G-7 outreach gave him the opportunity to meet global leaders and set priorities for his new term in office.

What is the future of G-7?

The G-7 is increasingly under attack for being an elitist, non-inclusive group, that doesn’t include three of the world’s top 10 economies, China, India and Brazil, or representation from the rest of the world, like the G-20 does, for example. In addition, the G-7, which has not increased its membership (in fact, it decreased it, by dropping Russia in 2014), is increasingly being challenged by a grouping like BRICS, that has now doubled its size from the original Brazil-Russia-India-China-South Africa grouping to include other countries and energy majors like the UAE, Saudi Arabia, Iran, as well as Egypt and Ethiopia. That the G-7 has been unable to change the course of Russia’s invasion of Ukraine, or stop Israel’s devastating bombardment of Gaza, or deterred China from its inroads into global connectivity and infrastructure and economic influence, is raising more questions about its relevance.

It remains to be seen how the G-7, which may have a different composition of leaders, given impending elections in the U.K. and the U.S., stands up to the challenge to re-invent itself as an effective grouping. It will next convene for the annual summit in Canada’s Alberta region in 2025; the question is whether India will continue to accept a spot on its margins.

Last week, the U.N. nuclear watchdog’s 35-nation Board of Governors passed a resolution calling on Iran to step up cooperation with the watchdog and reverse its recent barring of inspectors.
| Photo Credit: Reuters

Iran called upon the Group of Seven (G7) on June 16 to distance itself from “destructive policies of the past”, the Iranian Foreign Ministry spokesperson Nasser Kanaani said, referring to a G7 statement condemning Iran’s recent nuclear programme escalation.

On June 14, the G7 warned Iran against advancing its nuclear enrichment programme and said they would be ready to enforce new measures if Tehran were to transfer ballistic missiles to Russia.

“Any attempt to link the war in Ukraine to the bilateral cooperation between Iran and Russia is an act with only biased political goals,” Mr. Kanaani said, adding that some countries are “resorting to false claims to continue sanctions” against Iran.

Last week, the U.N. nuclear watchdog’s 35-nation Board of Governors passed a resolution calling on Iran to step up cooperation with the watchdog and reverse its recent barring of inspectors.

Iran responded by rapidly installing extra uranium-enriching centrifuges at its Fordow site and begun setting up others, according to a International Atomic Energy Agency (IAEA) report.

Mr. Kanaani added Tehran would continue its “constructive interaction and technical cooperation” with the IAEA, but called its resolution “politically biased.”

Iran is now enriching uranium to up to 60% purity, close to the 90% of weapons grade, and has enough material enriched to that level, if enriched further, for three nuclear weapons, according to an IAEA yardstick.

World leaders pose for a family photo with G7 heads of States and heads of delegation of Outreach countries at Borgo Egnazia resort during the G7 Summit hosted by Italy, in Savelletri, on June 14, 2024.
| Photo Credit: AFP

The Group of Seven (G7) industrialised nations have committed to promoting concrete infrastructure initiatives such as the India-Middle East-Europe Economic Corridor (IMEC) in the G7 Summit Communique issued at the end of the three-day G7 Summit, attended by Prime Minister Narendra Modi.

The Communique was issued on June 14 after the customary “family photo” at the luxury resort of Borgo Egnazia, where the G7 also reiterated a commitment to a “free and open Indo-Pacific” based on the rule of law.

Prime Minister Modi attended the G7 Summit at the invitation of Italian Prime Minister Giorgia Meloni, the host.

“We will further promote concrete G7 PGII (Partnership for Global Infrastructure and Investment) initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the India-Middle East-Europe Economic Corridor, also building on the EU Global Gateway, the Great Green Wall Initiative, and the Mattei Plan for Africa launched by Italy,” reads the communique.

Billed as a path-breaking initiative, the IMEC envisages a vast road, railroad and shipping network among Saudi Arabia, India, the United States and Europe to ensure integration among Asia, the Middle East and the West.

The IMEC is also seen as an initiative by like-minded nations to gain strategic influence in the face of China’s Belt and Road Initiative (BRI) which has faced increasing criticism over lack of transparency and disregard for sovereignty of the nations.

The BRI is a mega connectivity project that connects China with Southeast Asia, Central Asia, Russia and Europe. The IMEC initiative was firmed up on the sidelines of the G20 Summit hosted by India in Delhi last year.

About the Outreach session on Friday on the topic of Artificial Intelligence, Energy, Africa and the Mediterranean addressed by Mr. Modi, the Communique reads: “In a spirit of shared responsibility, we warmly welcome the participation of the Leaders of Algeria, Argentina, Brazil, India, Jordan, Kenya, Mauritania, Tunisia, Turkiye, and the United Arab Emirates.

“We will step up our efforts to enhance interoperability amongst our AI governance approaches to promote greater certainty, transparency and accountability while recognising that approaches and policy instruments may vary across G7 members. We will take a risk-based approach in these efforts as we seek to foster innovation and strong, inclusive, and sustainable growth.”

Among the other priorities of the summit’s agenda, the communique registers “unwavering support” for Ukraine in its ongoing conflict with Russia.

It notes:“With a view to supporting Ukraine’s current and future needs in the face of a prolonged defence against Russia, the G7 will launch Extraordinary Revenue Acceleration (ERA) Loans for Ukraine, in order to make available approximately $50 billion in additional funding to Ukraine by the end of the year.

“Therefore, without prejudice to possible other contributions and standing together, the G7 intends to provide financing that will be serviced and repaid by future flows of extraordinary revenues stemming from the immobilisation of Russian sovereign assets held in the European Union and other relevant jurisdictions. To enable this, we will work to obtain approval in these jurisdictions to use future flows of these extraordinary revenues to service and repay the loans.”

Pope Francis became the first pontiff to join the participants of the G7 hosted by Italy – the U.S. President Joe Biden, British Prime Minister Rishi Sunak, Canadian Prime Minister Justin Trudeau, German Chancellor Olaf Scholz, French President Emmanuel Macron, Japanese Prime Minister Fumio Kishida, European Commission President Ursula von der Leyen and European Council President Charles Michel.