PM Modi Leaves for Italy Today: What’s on the Cards?

Undertaking the first foreign trip of his third term as Prime Minister, Modi will leave for Italy today in order to attend the 50th G7 leaders summit. He will attend an outreach session of the summit accompanied by a high-level delegation. The session is expected to highlight issues including energy, artificial intelligence, Africa and the Mediterranean. The summit will be held in the luxury resort of Borgo Egnazia in Italy’s Apulia region from June 13th to 15th. This edition of the summit is likely to be dominated by the Russia-Ukraine war and the Israel-Palestine War. This summit will mark Modi’s fifth time attending whereas India will be attending for the 11th time.

What is the G7?

The Group of Seven (G7) is an intergovernmental organization of the world’s largest economies, comprising the US, UK, France, Italy, Germany, Canada and Japan. It was formed in the 1970s as an informal forum for leaders of the world’s leading industrial nations to discuss and coordinate economic policy. The G7 holds an annual summit where the leaders of the member countries along with the Presidents of the European Council and European Commission meet to discuss global issues.

 This year, Italy as the G7 presidency has also invited Algeria, Argentina, Brazil, Egypt, Kenya, Mauritania, Saudi Arabia, South Africa, Tunisia, Turkey and UAE. The Secretary-General of the United Nations and heads of the World Bank, the IMF, the African Development Bank and the Organisation for Economic Cooperation and Development (OECD) will also be present.

What is on the agenda in Italy?

The Summit will begin with a discussion on Africa and centering climate change and development. The next topic on the agenda is a discussion about the Middle East. Lastly, two sessions will be dedicated to Ukraine and the first session will include Ukrainian President Volodymyr Zelensky. On the second day, talks will revolve around the Indo-Pacific, immigration and economic security. In the afternoon, the outreach partners will meet for talks on the Mediterranean, energy and Africa. 

The focus however will be on whether the leaders can finally reach an agreement on how to leverage profits generated by Russian assets frozen in the West. A new security agreement between the USA and Ukraine is also expected to be brokered on the sidelines of the summit. In addition, China will also be discussed in detail with concerns about its industrial overcapacity. There is no certainty as to what the G7 leaders will do to address the heavy debt burden faced by many emerging markets and developing nations, although the issue is likely to be discussed at length. 

When does the Summit End?

The Summit officially closes on June 15th but President Joe Biden will fly out on the 14th. The only event scheduled for the final day is the closing conference of host country leader PM Giorgia Meloni and bilaterals for other leaders.

The conclusions that will result from the imminent discussion at the summit and its impact on the global landscape remain to be seen.