[Solved] Consider the following statements: India is a member of the International Grains Council. 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?

49. 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?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Answer : 1

· Yes, India is a member of the International Grains Council (IGC).

· The IGC is an intergovernmental organization that promotes cooperation in the global grain trade and enhances market transparency.

· India’s participation in the IGC reflects its significant role in the global grains market.

· No, a country does not need to be a member of the International Grains Council (IGC) to export or import grains.

· The IGC is an intergovernmental organization that promotes cooperation in the global grain trade and enhances market transparency through information-sharing and analysis.

· However, membership is not a prerequisite for participating in international grain trade.

· Many countries that are not IGC members actively engage in exporting and importing grains.

· IGC Membership: While India is a member of the IGC, membership is not mandatory for countries to engage in international trade of grains like rice and wheat. ​

· Non-Member Trading Nations: Countries such as Russia, Ukraine, and Afghanistan are not members of the IGC but actively participate in the global grain trade. ​

· Role of IGC: The IGC serves as an intergovernmental organization that promotes cooperation in the global grain trade by enhancing market transparency and providing analysis and consultation on market and policy developments.