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The IMEC billed as a ground-breaking initiative, envisions a vast road, railroad, and shipping network among Saudi Arabia, India, the United States, and Europe to ensure integration between Asia, the Middle East, and the West

Besides India, Italy has invited leaders from 11 developing nations in Africa, South America, and the Indo-Pacific region to the summit

Notably, India is taking part in the Group of Seven (G7) Summit as an outreach nation

Taiwan on Friday said that it tracked 8 Chinese military aircraft, and 8 naval vessels operating around the nation.

PM Modi expressed his satisfaction with Italy being the destination for his first foreign visit in his third term.

Last week, Macron congratulated Modi as the BJP-led NDA secured a third consecutive term following the Lok Sabha elections, referring to him as a "dear friend."

The first day of the summit revolved around the Russia-Ukraine conflict, with leaders endorsing a US proposal to provide a USD 50-billion loan to Kyiv using frozen Russian assets.

Biden stated that they had taken major steps at the G7 that collectively show (Russian President Vladimir) Putin he cannot wait us out

Russia considers Western attempts to seize income from its frozen assets criminal, foreign ministry spokeswoman Maria Zakharova said

According to data for 2023-24, China became India's largest trading partner with $118.4 billion in two-way trade, surpassing the US, whose bilateral trade with India stood at $118.28 billion.