G-7 meaning in Business ?

Answer:

What is Group of Seven mean?

The Group of Seven (G7) is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Its members are the world's largest IMF advanced economies and wealthiest liberal democracies; the group is officially organized around shared values of pluralism and representative government. As of 2018, the G7 nations account for close to 60 percent of global net wealth ($317 trillion), 32 to 46 percent of global gross domestic product, and about 770 million people or 10 percent of the world's population. Most members are great powers in global affairs and maintain mutually close economic, military, and diplomatic relations.

Originating from an ad hoc gathering of finance ministers in 1973, the G7 has since become a formal, high-profile venue for discussing and coordinating solutions to major global issues, especially in the areas of trade, security, economics, and climate change. Each member state's head of government, along with representatives of the European Union, meet annually at the G7 summit; other high-ranking officials of the G7 and the EU meet throughout the year. Representatives of other nations and international organizations are often invited as guests, with Russia having been a formal member (as part of the Group of Eight) from 1997 to 2014.

The G7 is not based on a treaty and has no permanent secretariat or office; its presidency rotates annually among the member states, with the presiding nation setting the group's priorities, and hosting and organizing its summit. While lacking a legal or institutional basis, the G7 is considered to wield significant international influence; it has catalyzed or spearheaded several major global initiatives, including efforts to combat the HIV/AIDS pandemic, provide financial aid to developing countries, and address climate change through the 2015 Paris Agreement. The group has been criticized for its allegedly outdated and limited membership, narrow global representation, and ineffectualness; it is also opposed by anti-globalization groups, which often protest at summits.

reference

Full Form	Category
Group of Seven	Business
Group of 7 Nations	Governmental
Information Operations Staff Officer (ARFOR)	Governmental