Context

• Recently, the USA has suggested the postponement of the 46th G7 (Group of 7) Summit which was scheduled to be held in June (2020) at Camp David (USA).
• Additionally, the USA President has also proposed the expansion of the G7 to be called ‘G10 or G11’.
• The proposed expansion has suggested inclusion of India, Australia, South Korea and Russia in the grouping of the largest advanced economies.

About G7

• The G7 or ‘Group of Seven’ consists of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
• It is an intergovernmental organisation that was formed in 1975 as an informal forum to discuss pressing world issues.
• Initially it focussed on economic issues but later it focused on the several challenges such as the oil crashes of the 1970s, terrorism, arms control, and drug trafficking.
• The group does not have a formal constitution or a fixed headquarters.The decisions taken by leaders during annual summits are non-binding.
• The G7 nations meet at annual summits that are presided over by leaders of member countries on a rotational basis.
• The G20 is a larger group of countries, which also includes G7 members.