UPSC Prelims 2024 Question:

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 Green Council for exporting or importing of Rice and Wheat.
   
   

Which of the statements given above is/are correct?

Explanation: 

• The International Grains Council (IGC) is an intergovernmental organisation that seeks to:
  • Further international cooperation in grains trade;
  • Promote expansion, openness and fairness in the grains sector;
  • Contribute to grain market stability and to enhance world food security.
    
    
• These objectives are sought by improving market transparency through information-sharing, analysis and consultation on market and policy developments. Grains, rice and oilseeds market conditions are monitored on a daily basis, through circulation of daily reports and maintaining web-based information services, and the Council formally exchanges information at Market Conditions Committee meetings and Council sessions. India is a member of the IGC. So, statement 1 is correct.
  
• Each member is designated as an importer or exporter on the basis of its average trade in grains, rice and oilseeds. The operations of the Council are financed by annual contributions from its members, which are proportionate to their share of world trade in grains, rice and oilseeds. A country need not be a member of the IGC for exporting or importing of Rice and Wheat. So, statement 2 is not correct.
  
  

Therefore, option (1) is the correct answer.

Subject: Economics | Economic Organisations and Conventions