G-7

Why in news ?

• The G-7 ministerial meeting was held recently.
• Apart from G7 members, foreign ministers of Australia, India, the Republic of Korea and South Africa participated in the event.

About G7:

• G7 or Group of Seven is a group comprising world's most industrialized economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
• The heads of government of the member states, as well as the representatives of the European Union, meet at the annual G7 Summit.
• As of 2018, the G7 represents 58% of the global net wealth ($317 trillion), more than 46% of the global gross domestic product (GDP) based on nominal values, and more than 32% of the global GDP based on purchasing power parity.
• The organization earlier included Russia and was called G8 till Russia was expelled in 2014.

Prelims Question:

Which of the following countries are currently part of G7 Group:
1.Germany
2.Australia
3.Italy
4.France
Select the correct answer using the code given below:
(a)1 and 2 only
(b)2 and 3 only
(c)1,3 and 4 only
(d)1,2 ,3 and 4

Answer to Prelims question