Indian Economy News

Union Commerce and Industry Minister Mr. Piyush Goyal to attend G7 Trade Ministers’ Meeting in Osaka, Japan

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Mr. Piyush Goyal will attend the G7 Trade Ministers' Meeting in Osaka, Japan, on October 28th-29th, 2023.

The Minister will meet with a few G7 countries, invitee countries, and international agencies such as the World Trade Organisation (WTO), on the sidelines of the outreach programs.

The Trade Ministers of the G7 Member States gather annually to address current global trade and investment concerns and chart a roadmap for a better future.

Under its Presidency this year for the G7 Trade Ministers conference to be held on October 28th-29th, 2023, Japan has asked India, along with a few other invitee countries (Australia, Chile, Indonesia, and Kenya), to participate in the outreach programme on October 28th, 2023. In addition, international bodies such as the WTO, the Economic Research Institute for ASEAN and East Asia (ERIA), and the Organization for Economic Cooperation and Development (OECD) have been invited.

This year, Japan has chosen two contemporary subjects for the outreach programme: "How to enhance Supply Chain Resilience” and “Promote Trade and Sustainability- environment, Development and Digital, including prospects for WTO MC13”.

The G7 is an intergovernmental political forum comprised of the United States, the United Kingdom, Japan, Italy, France, Canada, and Germany. The European Union (EU) is also a "non-enumerated member." The G7 meetings are organised on the shared values of pluralism, liberal democracy, and representative governments. G7 members account for 10% of the global population yet account for roughly 40% of global GDP.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.