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?

The correct option is 1 only.

Explanation of Statement 1:
India is a member of the International Grains Council (IGC). The IGC is an intergovernmental organisation that seeks to promote cooperation, increase transparency, and encourage the expansion of trade in the grains sector. India is a signatory to the Grains Trade Convention (GTC) of 1995, which is administered by the IGC.

Explanation of Statement 2:
Membership in the International Grains Council is not a prerequisite or a mandatory requirement for a country to import or export rice, wheat, or other grains. The IGC does not regulate or control international trade transactions. Instead, trade is governed by bilateral contracts, national policies, and rules set by the World Trade Organization (WTO). Therefore, non-member countries are entirely free to engage in the import and export of grains.