The recently concluded G7 had many takeaways not just for its members but also for India and its sub-continent.
India was specially invited to the forum by the host France for the meet to be held in the city of Biarritz. The G7 is a coalition of the most advanced economies which have the greatest influence and clamour alike. The G7 which discussed agendas pertaining to the environment, energy and bilateral relations among the members also saw significant shifts due to the issues surrounding the world order. Among the critical topics which dominated this G7 meet were Iran, China and U.S. trade wars, India and Pakistan relationship concerning Kashmir, Amazon wildfires and Brexit.
Prior to the prime minister of India’s meet in the G7, Pakistan was already downgraded by the Financial Action Task Force (FATF), it means that Pakistan which was earlier in the Greylist of the financial body was further downgraded to the Blacklist, as it could not control its policies in regard to controlling the use of money that was used for terrorism, laundering and illegal purchase. Any references on Kashmir was also not brought up—with the American President Donald Trump refusing to mediate unlike his previous overtures, which had caused tensions in the two nuclear states in the sub-continent.
Therefore India’s stand that the Kashmir matter was a bilateral issue and should be settled in that regard was indeed a milestone, especially since the constant rumblings and rhetoric created by our neighbour. Moreover, India was able to turn the tide in its favour and corner Pakistan, especially after the FATF downgrade and asked the country to stop terrorism.
On the environmental front, India impressed further with the PM, highlighting the importance of plastic use elimination. The PM also spoke on the importance of water conservation and how India will achieve its targets specified under the Intended Nationally Determined Contributions or INDC and COP21 goals.
Iran, also came calling to the G7 meet, for a country that was once highly westernised and now under Sharia, facing massive trade embargoes, a bourgeoisie population and many among them young educated individuals, Iran is desperate to do business. The 2015 Iran deal done by the P5+1 countries that included the previous dispensation in America was a landmark deal that enabled the country to come out of solitude and respect the use of its nuclear inventories for peace and energy.However, as Donald Trump backed out of the deal citing it to be unfair to Americans, it made the world leaders come together and deliberate more comprehensively. Due to the proxy war between Iran and Saudi Arabia in Yemen ranging for almost four years now, or the sensitive and strategic strait of Hormuz and the Gulf of Aden becoming tenser, it was essential to bring the U.S. to the dialogue table with Iran. President Trump has promised to meet the Iranian counterpart to discuss and solve the impasse on the nuclear deal.
China is the country set to overtake the U.S. very soon and any disruptions in their economy affects the whole world order. The recent trade wars added more trade protectionist ideology in an otherwise free, open trade generation. By enhancing trade costs and import substitution, both countries have to realise the gravity of the situation and behave in a more farsighted and prudent manner. President Trump has initiated that talks, between the two countries, will resume a day soon after calling the tariff rates low and branding the premier Xi Jingping an “enemy”.
The G7 meanwhile also focused on the raging fire in the Amazon, called the lungs of the earth. The fire has been unprecedented, and it needs global cooperation to arrest the spread. Brazil is the country where the forest spreads have seen most of the brunt, with thick black smog overlapping the cities of Rio and as far as Santos. The G7 countries have pledged 20 million euros and send firefighting aeroplanes to help douse the world’s largest repository of fresh air, water and natural flora and fauna.
The G7 is a union of seven powerful and economically advanced countries that include: the U.S., United Kingdom, Germany, Japan, France, Canada and Italy and represents 46% of the GDP in nominal value, this easily makes it a sizeable intergovernmental union which can take tough decisions and actions. Therefore, the members and its invitees must understand the need of the hour and respect the sentiments living and non-living.