Why in news? The annual G7 was held from May 19 to 21 in Hiroshima, Japan and was attended by Indian PM Narendra Modi and British PM Rishi Sunak

Highlights:

• Various issues of global importance like the Ukraine war, generative AI, economy, military relations and more were discussed
• Host country: Japan, the presidency of G-7 summits revolves among the seven members. Two representatives of the European Union also join.
• This year, the leaders of Australia, Brazil, Comoros, Cook Islands, India, Indonesia, South Korea and Vietnam were invited

Why Hiroshima was chosen?

• Hiroshima, Japan is the venue for the 2023 G7 Summit. Hiroshima has several historic implications as it was the first city to be bombed with a nuclear weapon during World War II. Hiroshima symbolises the grave threat of atomic weapons, the effects of wars and steps towards world peace.

What is the G-7 Summit?

• The Group of Seven is an informal group of leading industrialised nations. It consists of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.
• As is customary in recent years, leaders from some non-G-7 countries and international organizations will also participate in some sessions.
• The leaders discuss a wide range of issues, including economic policy, security, climate change, energy and gender.
• The first summit was in 1975, when France hosted what was then a Group of Six meeting to discuss tackling a recession that followed an Arab oil embargo. Canada became the seventh member a year later. Russia joined to form the G-8 in 1998 but was expelled after Moscow’s 2014 annexation of Crimea.
• The G-7 countries’ share of global economic activity has shrunk to about 30% from roughly 50 per cent four decades ago.