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?
✓ Correct answer: a) 1 only
ExplanationThe International Grains Council (IGC) is an inter- governmental organization established in 1949 to promote cooperation and stability in the global grain trade.It oper- ates under the Grains Trade Convention (GTC), 1995, which aims to enhance market transparency and international pol- icy coordination.Headquartered in London, United Kingdom, the IGC has 30 member countries, including India, the USA, the EU, China, and Russia, working together to monitor grain supply, demand, and trade policies worldwide.Statement 1 is correct : The IGC is an intergovernmental organi- zation that promotes cooperation in the global grain trade.India, along with 29 other countries, is a member of the International Grains Council (IGC).Statement 2 is incorrect : A country does not need to be a member of the IGC to export or import rice and wheat.Mem- bership in the IGC is not a prerequisite for engaging in interna- tional trade of grains.Many countries actively participate in the global grains market without being members of the IGC.6
Practice more Current PYQs
Attempt a free 10-question quiz or browse the full Current Affairs previous-year-question bank with instant answers and explanations.
🗞️ Current PYQs →