- The Group of Seven (G7) is a collective of seven of the world’s most industrialized and developed economies. Their political leaders come together annually to discuss important global economic, political, social and security issues.
- The G7 member countries are the United States, Britain, France, Japan, Germany, Italy, and Canada.
- Russia belonged to the forum from 1998 through 2014, when the bloc was known as the G8, but was suspended following its annexation of Crimea.
- India is not a member of the G-7 grouping.
Why in News?
- Russia has welcomed India’s decision to not support the price cap on Russian oil announced by the G7 countries and their allies.