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48th G-7 Summit

48th G-7 Summit:

At the 48th G7 Summit, Indian Prime Minister invited the G7 Nations to tap into the huge market for clean energy technologies emerging in the country.

  • Germany holds the presidency of the G7 in 2022.
  • The German Presidency has invited Argentina, India, Indonesia, Senegal and South Africa to the G7 Summit.

Highlights of G7 Summit:

  • G7 announced the collective mobilization of 600 billion dollars by 2027 under Partnership for Global Infrastructure and Investment (PGII) to deliver “game-changing” and “transparent” infrastructure projects to developing and middle-income countries.
  • Indian Prime Minister highlighted Global Initiative for LiFE (Lifestyle for Environment) campaign.
  • The goal of this campaign is to encourage an eco-friendly lifestyle.
  • Russia-Ukraine crisis has pushed the energy prices to a record high, Indian Prime Minister addressed the need for equal energy distribution amongst the population of rich and poor nations.
  • On Russia-Ukraine war, Prime Minister reiterated his stand that there must be an immediate end to the hostilities and a resolution should be reached by choosing the path of dialogue and diplomacy.

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