UPSC Prelims 2024·GS1·economy·open economy

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?

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Last updated 23 May 2026, 3:31 pm IST
  1. A1 onlyCorrect
  2. B2 only
  3. CBoth 1 and 2
  4. DNeither 1 nor 2

Explanation

1. **Statement 1 is correct.** India has been a member of the International Grains Council (IGC) for many years. The IGC is an intergovernmental organization that seeks to further cooperation in world grain trade, promote market transparency, and contribute to world food security. 2. **Statement 2 is incorrect.** Membership in the International Grains Council is not a prerequisite for a country to export or import rice and wheat. The IGC is an intergovernmental forum for cooperation and information exchange, not a regulatory body that controls or mandates trade based on membership. Global grain trade is governed by international trade agreements (like those under the WTO) and bilateral agreements, not solely by IGC membership. Many countries trade grains without being IGC members, and vice versa. Therefore, only statement 1 is correct.
economy: Consider the following statements : 1. India is a member of the International Grains Council. 2. A country needs to be a

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