Consider the following statements: 1. In India, the Biodiversity Management Committees are key to the realization of the objectives of the Nagoya Protocol. 2. The Biodiversity Management Committees have important functions in determining access and benefit sharing, including the power to levy collection fees on the access of biological resources within its jurisdiction. Which of the statements given above is/are correct?

In India, the Biodiversity Management Committees (BMCs) are statutory bodies established at the local level under the Biological Diversity Act, 2002. They are tasked with promoting conservation, sustainable use, and documentation of biological diversity, and equitable sharing of benefits arising from the use of biological resources. The Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization is an international agreement that aims to ensure benefit-sharing. India ratified the Nagoya Protocol, and the BMCs, by facilitating access and benefit-sharing at the local level, are indeed key to the realization of the objectives of the Nagoya Protocol within India's legal framework. Thus, Statement 1 is Correct.

The Biological Diversity Act, 2002, and the Biological Diversity Rules, 2004, empower BMCs with important functions regarding access and benefit sharing. BMCs are responsible for determining access to biological resources and associated traditional knowledge, and for ensuring equitable sharing of benefits. They also have the power to levy collection fees from those accessing biological resources within their local jurisdiction, as specified in the rules. Thus, Statement 2 is Correct.