Later on in a phone conversation with Indian PM Narendra Modi, Trump invited India to participate in the next G7 summit to be hosted by the United States. India has attended several G7 summits previously, but Trump’s invitation to the 2020 summit and his remarks on expanding G7 bring about ample opportunities and challenges before New Delhi in strategic, political and economic realms.
The inclusion of emerging economies like India will strengthen the grouping, which loosened after Russia’s removal in 2014. Anyhow, the structure will remain incomplete, owing to the exclusion of China, which is the second-largest economy in the world. However, the extended G7 will help India to improve its relations with advanced economies and can attract more investments in the future.
What is G7?
The G7 is a group of elite advanced economies formed as a response to the embargo imposed by OAPEC (Organization of Arab Petroleum Exporting Countries) on the United States, Japan, Canada and Netherlands lead for causing the 1973 oil crisis. This crisis shackled the western economies due to their over-reliance on the Middle East for oil supplies. As a response in 1975, France invited the UK, US, Japan, Italy, Germany for a formal arrangement of developed economies to redesign the world order. This grouping became G7 when Canada joined the organization in 1976. With Russia’s inclusion in 1998, the grouping was termed as G8 till 2014. In 2014, Russia was expelled from the forum due to its seizure of Crimea from Ukraine.
Esta historia es de la edición August 2020 de Extraordinary and Plenipotentiary Diplomatist.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 2020 de Extraordinary and Plenipotentiary Diplomatist.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
THE WOLF ECONOMY AWAKENS
Mongolia's Fight for Democracy, and a Green and Digital Future
DESTINATION Kenya
Background - My interest in visiting Kenya began on December 3, 2016, when the Kenya Tourism Board organized the Magical Kenya Open Golf Tournament in Delhi. The event, by invitation only, attracted many notable figures from Delhi NCR, and I was fortunate to be one of the winners. Along with a beautiful trophy, the prize included a trip to Kenya to play three rounds of golf in Nairobi and visit the renowned wildlife sanctuaries of Kenya.
THE POLITICAL LESSONS FROM THE MAHABHARATA
The word 'politics' always inflicts a sense of excitement as well as resentment amongst the public at large. Often people irrespective of gender or age are found commenting upon the dynamics of politics and the way it has taken shape over the years.
UNIVERSAL HEALTH INSURANCE: TRANSFORMING TANZANIA'S HEALTHCARE SYSTEM
Tanzania, a country known for its rich cultural heritage and breathtaking landscapes, is now setting a new precedent in the healthcare sector.
INDIA'S ELECTRIC REVOLUTION: LEADING THE GLOBAL THREE-WHEELER MARKET
Globally, long-term EV growth is expected to lower battery prices and advance next-generation battery technology, enhancing the economic viability of electric vehicles. According to a BNEF report, the three-wheeled vehicle segment is on track to reach net zero emissions by mid-century, with India's growth positioning it as a global leader.
INDIA'S STRATEGY TO SCALE UP GREEN HYDROGEN PRODUCTION
India's first multi-purpose green hydrogen pilot project at 1,500 MW Nathpa Jhakri Hydro Power Station (NJHPS) in Himachal's Jhakri was inaugurated on April 24 this year.
"Vietnam-India comprehensive strategic partnership has made progress"
In an interview with Diplomatist Magazine, Mr. Le Quang Bien, Consul General of Vietnam in Mumbai, provides perspectives on the burgeoning Vietnam-India relationship, particularly focussing on trade, investment, tourism, and renewable energy sectors. With Vietnam's emergence as a pivotal manufacturing hub in Southeast Asia and India's robust technological prowess, he highlights the promising avenues for collaboration in manufacturing, technology, and agriculture. Mr. Bien also sheds light on Vietnam's rich cultural and natural attractions, emphasising the Consulate General's efforts to promote tourism and culinary exchange in Mumbai.
THE EVOLUTION OF MINILATERALS: CATALYSTS FOR STRATEGIC COOPERATION IN THE INDO-PACIFIC
The current set of multilaterals, collectively or individually are facing a challenge in achieving four objectives of the largest multilateral institutions, the United Nations viz, \"maintaining international peace and security, protecting human rights, delivering humanitarian aid and support sustainable development\", owing to rising great power competition, unbridled competition among regional powers and unprecedented challenges in the Global North and the Global South.
NAVIGATING THE CROSSROADS: VISION FOR EUROPE'S FUTURE
\"Europe will not be made all at once, or according to a single plan. It will be built through concrete achievements which first create a de facto solidarity.\" Jean Monnet - The Father of the European Union.
ECONOMIC REFORMS AND GROWTH PROSPECTS: INDIA'S AGENDA FOR THE GLOBAL ECONOMY
India's economy is of global importance with a large young population and an open and democratic political system. It is already the third-largest economy and contributor to global economic growth, yet there is considerable untapped potential.
