Here are 10 points on this big story:
The summit is being held at the luxurious Borgo Egnazia resort in Italy's Apulia region. India has been invited to the G7 Summit as an Outreach country and this is PM Modi's first overseas visit since he took oath as Prime Minister for the third straight term.
The Prime Minister held bilateral meetings with Ukrainian President Volodymyr Zelensky, French President Emmanuel Macron, UK Prime Minister Rishi Sunak and Pope Francis. He also met Italian Prime Minister Giorgia Meloni, with whom he is scheduled to hold talks, and US President Joe Biden.
PM Modi and the Pope shared a hug. The Prime Minister invited Pope Francis to visit India and said he admires his commitment to serving people and making the planet better.
The Prime Minister also met his Canadian counterpart Justin Trudeau, their first face-to-face meeting after Mr Trudeau claimed that Indian government agents were involved in the killing of Khalistani separatist Hardeep Singh Nijjar in Canada last year.
After the meeting with Mr Zelenskyy, Prime Minister Modi said it was a productive one and that India is eager to further cement bilateral relations with Ukraine. On the war with Russia, the PM reiterated that India believes in a human-centric approach and that the way to peace is through dialogue and diplomacy.
Giving details of the PM's meeting with Mr Macron, Ministry of External Affairs (MEA) Spokesperson Randhir Jaiswal posted on X: "Taking Strategic Partnership to new levels! PM @narendramodi met President @EmmanuelMacron of France on the sidelines of the 50th G7 Summit in Apulia, Italy,"
"The two leaders discussed ways to further strengthen the partnership including in areas of defence, nuclear, space, education, climate action, digital public infrastructure, critical technologies, connectivity and culture. They also exchanged views on key global and regional issues," he added.
Day one of the summit was dominated by the Russia-Ukraine conflict as the leaders agreed on a US proposal to back a $ 50-billion loan to Kyiv utilising frozen Russian assets, described by US President Joe Biden as a "significant outcome" and a strong message to Russian President Vladimir Putin.
In his departure statement, PM Modi had said he was "glad" that his first foreign visit in his third term as Prime Minister was to Italy for the G7 Summit.
"I warmly recall my visit to Italy for the G20 Summit in 2021. Prime Minister Meloni's two visits to India last year were instrumental in infusing momentum and depth in our bilateral agenda. We remain committed to consolidate the India-Italy strategic partnership, and bolster cooperation in the Indo-Pacific and the Mediterranean regions," his statement said.
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