In the first place, the article will provide all information related to the G7 Countries. Know about the G7 summit, members, countries list, G7 headquarters, and other related information. It is one of the essential topics for the IAS exam, and you will find all the vital points that will help you with the IAS exam preparations. In addition, in other articles, you will get information on the IAS exam and IAS exam syllabus details. So read the article and learn more about the G7 Countries and headquarters details.
About the Article
This article will give you all information related to the G7 Countries. The G7 is a group of the seven most advanced economies per the IMF – International Monetary Fund. Further, the seven countries are Canada, the USA, the UK, France, Germany, Japan, and Italy. As mentioned, this article is essential for the IAS exam, and one must go through the official website to know more about the exam. One must understand the exam requirements before applying for the exam. Further, while reading the article, ensure you have noted down all the vital points as it will help you during exam time. Let’s begin and understand the G7 summit, headquarters, and other details.
Why essential for the IAS exam?
Understanding the G7 countries list, members, summit, and headquarters is vital as a part of the IAS exam GS papers. If you are aware, in the first round, questions are objective type and in the main exam, questions are descriptive type. Also, you are required to choose the optional subject. There are nine papers in the main exam; to get the best results in the exam, you have to cover the entire syllabus. Click Here to get the complete information on the UPSC exam and other exams conducted by the UPSC. Read More. You can note down all points related to the exam, and it may help you in the future.
In the first place, it is an intergovernmental organization that was formed in 1975. Further, all the countries meet annually to discuss issues of common interest like global economic governance, international security, and energy policy. Then the G7 countries are the UK, Canada, France, Germany, Italy, Japan, and the US. In all G7 countries, annual public sector expenditure crossed revenue in 2021. However, most G7 members also had a high level of gross debt, especially Japan (263% of GDP), Italy (151%), and the US (133%).
The member countries show 40% of the global GDP and 10% of the world’s population. From 1998 to 2014, it was the G8 that included Russia. But, after the Crimean crisis, Russia was expelled from the group. Further, in 2014 Russia carried out armed aggression on Ukraine and ceded the Crimean Peninsula from it.
G7 Countries List
We have listed the G7 countries list
- United States
- United Kingdom
Further, below we have listed the G7 Digital Trade Principles
- Open digital markets
- Cross-border data flows
- Safeguards for workers, consumers, and businesses
- Digital trading systems; and
- Fair and inclusive global governance
Further, the idea of the forum for the world’s major industrialized countries emerged before the 1973 oil crisis. In 1974, all five members endured sudden and often troubling changes in leadership. Finally, in 1975, a summit hosted by France brought together representatives of six governments France, West Germany, Italy, Japan, the UK, and the United States.
Critical Points of G7 countries
- The G7 is among the 15 top-ranked countries with the highest net wealth per capita. Further, five members of the G-7 have the largest proven reserves of gold.
- In addition, all 7 are top-ranked advanced economies with the current largest GDP and the highest national wealth.
- Six of the nine largest nuclear energy producers (United States, France, Japan, Germany, Canada, and the UK). Germany announced in 2011 that it would close all its nuclear power plants by 2022.
The G7 comprises the seven wealthiest advanced countries; according to the reports above, 62% of the global net wealth. Including the EU, the G7 represents over 70% of the global net wealth. Further, Summits are held annually and hosted on a rotation basis by the group’s members.
Significance of G7 members
The main aim of the G7 countries is to discuss and sometimes act to help resolve global problems, with a particular focus on economic issues. Further, G7 leaders have met to formulate common responses to challenges encompassing counterterrorism, development, education, health, human rights, and climate change. Later, In 1997, the G7 countries agreed to provide $300 million to contain the effects of the reactor meltdown in Chernobyl. In addition, in 2002, members decided to launch a coordinated response to fight the threat of AIDS, Tuberculosis, and Malaria.
In 2015, members launched the Global Apollo Program. It aimed to tackle climate change through clean energy research and development.
Further, India is a natural ally for the G7 countries in defending the shared values from a host of threats stemming from authoritarianism, terrorism and violent extremism, disinformation, and economic coercion.
Highlights 47th G7 Summit 2021
In the first place, the G7 summit was held in June 2021 in the United Kingdom. Further, the Indian Prime Minister and representatives from South Korea, South Africa, and Australia were also invited as the guest nations to the 47th Summit. Besides, the objective of the 47th G7 Summit was to unite leading democracies to help the world. In addition, the main aim was to promote future prosperity by championing free and fair trade. Championing globally shared values in open societies, Leading the global recovery from the Novel Coronavirus while strengthening resilience against future pandemics
Issues of G7 Summit
However, there are some issues related to the G7 countries. Several other countries believe that disregards the interest of smaller nations. It puts severe conditions on the global South countries that undermine their economic sovereignty. Further, It enhanced the economic inequality within and among the countries. In addition, it puts inhumane conditions on the global South countries that undermine their economic sovereignty.
G7 accounted for 59% of historical CO2 emissions and pledged to phase out fossil fuels. Besides, in terms of terrorism, ISIS has thousands of fighters from G7 countries.
Conclusion – G7 Countries
In conclusion, the grouping should become more representative of nature. In addition, emerging economies like India and South Korea must be made a part of the group. As mentioned, one should go through this topic as it is essential for the IAS exam preparation. Click here to know more about other IAS exam study materials. In addition, you will also get information on the IAS exam right from the exam requirements, exam pattern, books, tests, and other details. One needs to understand all these things before applying for the exam.
When we talk about the IAS exam, there are various things one needs to know. Further, there are two methods to prepare for the IAS exam, either you can study on your own or can join coaching classes. In both ways, one must work hard and put in all efforts. As the IAS exam is unlike any other one, one needs to invest proper energy and time. In addition, try to go through last year’s papers and give mock tests. These things will help you to improve your skills and to know about the question format. There are many platforms that will offer test series and mock tests. One must get the latest information related to the exam by going through the official site. Learn More.
FAQs – G7 Countries List
Go through the below FAQs on the G7 members, headquarters, etc
Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, and the European Union.
One needs to know about the IAS exam syllabus and the pattern of the paper. Further, your hard work is vital for the IAS exam.
It varies from one person to another. However, one can also clear the exam without coaching classes well. One needs to know the exam syllabus and pattern of the paper.
Editor’s Note | G7 Countries
In summary, get all information related to the G7 countries list, headquarters, members, and other related information. We have covered all the necessary points that will help you with the IAS exam preparations. Further, one needs to go through the previous year question papers to know about the question format and other details. In addition, we have given you with the necessary links that will help you with the IAS exam. Further, it is vital for one to use some exam strategies that will help you to score good marks in the exam. We wish you good luck with the UPSC exam. Only a few will be able to make it to the end, so work hard for your dreams. Good Luck with the UPSC exam.