The G8 is a group formed in 1975 consisting of eight highly industrialized countries - France, Germany, Italy, the UK, Japan, the US, Canada, and Russia. The group meets annually at the G8 Summit to discuss global economic issues and security concerns. Membership has expanded over time from the original six countries (G6) to include Canada and Russia. The presidency of the G8 rotates annually among member countries. The G8 represents about 14% of the world population but 60% of global GDP. Critics argue it focuses only on industrialized nations and lacks representation from emerging economies like China and India.

1. G 8 Countries

2. What is G-8 It is a group of industrialised countries formed at the initiative of France in 1975 . To address the first issue of oil crises in 1975. The Group of Eight (G8) refers to the group of eight highly industrialized nations--France, Germany, Italy, Great Britain , Japan, United States, Canada, and Russia--which hold a yearly meeting, the G8 Summit . The main industrialized countries taking part in this process are known as the Group of Eight (G8).

3. Introduction :- An annual Summit at which the Heads of State and Government of the member countries hold talks with a view to finding solutions of the main world issues. France, the United States and Russia are represented by their Heads of State, whereas the United Kingdom, Germany, Japan, Italy and Canada are represented by their respective Heads of Government. The eight members meet once a year at Heads of State and Government level. Meetings are intended to foster consensus on global issues such as economic growth and crisis management, global security, energy, and terrorism.

4. Membership The Group of Eight ( formerly the G6) is a forum, created by France in 1975, for the government of six major countries ie is France, Germany, Italy, Japan, the United Kingdom and the United States. In 1976, Canada joined the group (thus creating the G7). In 1997, the group added Russia thus becoming the G8. Member nations are generally expected to have highly-developed economies and be democracies. The G8, unlike the United Nations, is not an organization or institution, and there is no formal charter or secretariat.

5. Presidency & Summit The G8 is chaired on rotational basis for a period of one year in the order of France, United States, United Kingdom, Russia, Germany, Japan, Italy and Canada. The European Union participates in the G8 as an observer; it is represented at the Summit by the President of the European Council and the President of the European Commission. The country that has the presidency organizes and hosts the Summit. France has hosted the summit on six occasions, in 2011 also it had hosted the summit .

6. Summit It is the meeting of the representatives of the member countries organized on annual basis. It provides an opportunity for direct and informal discussion among the leaders on key issues. It results in the adoption of a political statement, possibly accompanied by additional statements, sectoral action plans. For the last few years G8 had been inviting rep. of African and other countries.

7. Member facts All G8 countries are amongst the thirteen top-ranked leading export countries. The USA, Germany, Italy, France, Russia and Japan are among the top 10 countries with the largest gold reserves. Acc. IMF, G-8 countries are represented in the top eleven economies (by nominal GDP) of the world. World's 10 largest oil producers (Russia, USA, and Canada) The third and eighth largest oil reserves (Canada and Russia respectively). Nine largest nuclear energy producers are in the G8 (USA, France, Japan, Russia, Germany, Canada, UK). All of the G8 countries are ranked by the amount of voting power and Special Drawing Rights (SDRs) in the IMF organization.

8. Objectives of G8 To identify and work together on issues pertaining to security ,economies , climate change , Peace, geo political issues. Develop framework for regulation for the above issues. It is not a legal entity and does not take binding measures.

9. The G8's Efficacy and Influence The G8 nations constituted 55 percent of global gross domestic product (GDP); by 2004, this figure had decreased to 44 percent. The G8 nations comprise 53.0% of global nominal GDP and 42.5% of global GDP (PPP). G8 ministers also meet throughout the year, such as the G7/8 finance ministers (who meet four times a year), G8 foreign ministers, or G8 environment ministers. Together the eight countries making up the G8 represent about 14% of the world population, but they represent about 60% of the Gross World Product as measured by gross domestic product. All eight nations being within the top 12 countries according to the CIA World Factbook - ( Central Intelligence Agency )

10. Criticism of the G8 Focus only on the needs of industrial rather than developing countries. G8 is increasingly an anachronism. Lacks an administrative structure – does not have a permanent secretariat, or offices for its members.

11. Expanding the G8 China and India, up-and-coming economic powers, are notable omissions from the G8. As Richard Haass, President Council on foreign research argues, "the G8 needs to become the G10. Both China and India deserve a seat.“ China's inclusion, of course, would clearly mean the end of the G8 as a forum for leading democracies. China and India do belong to the G-20, a forum of finance ministers and central bank governors created by the then-G7.

12. Highlights of 37 th G8 summit 2011-France Held between 26-27 May 2011 in Deauville , France African countries Guinea, Niger, Côte d'Ivoire and Tunisia accepted their invitations for the first time. League of Arab States made its debut to the meeting. Key issues on the agenda : Fukushima nuclear accident European sovereign debt crisis, Conflict in Libya Iran’s nuclear programme, Syria’s crackdown on pro-democracy protests Selection of a new managing director for IMF

13. Highlights of 37 th G8 summit 2011-France $ 20 bn marked for Tunisia and Egyptian reforms affected by Arab spring. OECD engagement in MENA countries. Fight against corruption. Renewed commitment to democratic reforms Commitment to NPT.