G7 Summit: What is G7 and how it differs from G20 and BRICS? Why it still matters in the changing world | WION Decodes

The countdown for 52nd G7 Summit that is being held from June 15–17, 2026 in Évian-les-Bains, France has began. G7 literally means the Group of Seven. G7 refers to the seven nations namely Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States that forms member countries. Alongside these nations, European Union (EU) is also a part of the group as a non-enumerated member. Between 1997 and 2014, Russia was part of the group, temporarily making it the G8. However, Russia was indefinitely suspended in 2014 following its annexation of Crimea The informal grouping of these nations was formed in 1975 to address global macroeconomic challenges like the oil crisis and recessions in the 1970s. While it is not based on an official treaty and has no permanent secretariat or headquarters, it plays an important role worldwide as these seven nations represent roughly 40-50 per cent of the worldwide nominal GDP and about 10 per cent of the world's population.

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How does the G7 differ from the G20 and BRICS?

The G20 (Group of Twenty) is the premier forum for international economic cooperation, bringing together the world's major established and emerging economies and BRICS is an authoritative intergovernmental organization composed of 11 major emerging and developing economies. The groups essentially function as global forums focusing on economic stability, multilateral trade, and global governance reform. But, G7 caters to economy as well as security. Unlike the G20 or BRICS, which have diverse and often conflicting political systems such as China and India in BRICS, China, Russia vs G7 within G20, the G7 nations are aligned in their views on - democracy, human rights, and free-market capitalism.

The G7 is ready to adapt and it actively co-opts emerging powers rather than fighting them. By regularly inviting influential Global South democracies (such as India, Brazil, and South Africa) to its annual summits as "guest nations," the G7 bridges its policy goals with the wider world. G7 nations are advanced economies facing similar domestic challenges, such as aging populations, high labour costs, and advanced technology regulations (like AI governance). G20 functions as an economic fire brigade while BRICS consists of rapidly growing emerging markets looking to build alternative financial systems.

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Why does the G7 remain influential?

The G7 keeps itself relevant in midst of world's rising powers and fight between nations to exercise its hegemony because this group's greatest strength is its homogeneity. G7 consists strictly of wealthy and developed democracies. In terms of economy, the currency of G7 nations - the US dollar, Euro, British pound, and Japanese yen serve as the world's primary reserve and trade funding currencies. G7 nations also hold the largest voting shares in the International Monetary Fund (IMF) and the World Bank, giving them unparalleled power to dictate global lending terms and bailouts.

In the widely tech-savvy world, G7 serves "first responder" for technologies because major tech giants are headquartered within G7 borders (primarily the US). Thus, the group heavily dictates how advanced tech is governed globally. Programs like the Hiroshima AI Process and the Global Partnership on Artificial Intelligence (GPAI) were launched by the G7. From quantum computing to semiconductor supply chains, the G7 harmonizes risk assessments and technical benchmarks. The G7 has shifted from a pure focus on free trade to economic security, working collectively to counter economic coercion.

G7 also acts quickly due to shared political systems and values. For example: their decision to alienate Russia after Crimea's annexation was swift leading to group changing its form. That was possible because the G7 serves as a strategic security apparatus. G7 members are deeply integrated via military alliances like NATO and AUKUS, allowing them to back up political declarations with coordinated intelligence sharing, naval deployments, and defense production.