Consider the following statements : 1. India is a member of the International Grains Council. 2. A country needs to be a member of the International Grains Council for exporting or importing rice and wheat. Which of the statements given above is/are correct ?

India is a member of the International Grains Council (IGC), an intergovernmental body that oversees the Grains Trade Convention, making Statement 1 correct. Statement 2 is incorrect because membership in the IGC is voluntary and serves as a forum for cooperation and information exchange; it is not a mandatory regulatory requirement for a sovereign nation to export or import grains. The core concept being tested is the nature and function of international commodity organizations and their role in global agricultural trade.