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 indeed a member of the International Grains Council (IGC), an inter-governmental organisation that seeks to promote cooperation in international grains trade — so statement 1 is correct. However, membership of the IGC is not a prerequisite for any country to export or import rice, wheat or other grains. Countries trade grains under WTO rules and bilateral arrangements regardless of IGC membership; the IGC mainly facilitates information-sharing and market transparency. Hence statement 2 is incorrect. Only statement 1 is correct.