Explanation:

At the invitation of UK Prime Minister Boris Johnson, Prime Minister Shri Narendra Modi will participate in the Outreach Sessions of the G7 Summit on 12 and 13 June in virtual format.

• United Kingdom (UK) currently holds the Presidency of the G7 and has invited India, along with Australia, Republic of Korea and South Africa, as Guest Countries for the G7 Summit.
• This is the second time the Prime Minister will be participating in a G7 meeting.
• India had been invited by the G7 French Presidency in 2019 to the Biarritz Summit as a "Goodwill Partner” and Prime Minister participated in the Sessions on ‘Climate, Biodiversity and Oceans’ and ‘Digital Transformation’.
• The theme for the Summit is ‘Build Back Better’ and the UK has outlined four priority areas for its Presidency.

These are:

• Leading the global recovery from coronavirus while strengthening resilience against future pandemics
• Promoting future prosperity by championing free and fair trade
• Tackling climate change and preserving the planet’s biodiversity
• Championing shared values and open societies

Hence only statement 2nd is correct.