Consider the following statements: 1. In India, during the financial year 2004 - 2005 an increase of below 10% over the value of exports (in rupee terms) in the financial year 2003 - 2004 was reported. 2. According to the WTO, India's share in the world merchandise exports 2% in the year 2005. Which of the statements given above is/are correct?

1. Statement 1 is incorrect. India's exports experienced robust growth during this period. For the financial year 2004-2005, the value of exports (in US dollar terms, commonly used for international comparison, and also significantly in rupee terms) saw an increase well above 20% compared to 2003-2004, not below 10%. 2. Statement 2 is incorrect. According to WTO data, India's share in the world merchandise exports in 2005 was approximately 1%, not 2%. It crossed the 1% mark around that time but was still significantly below 2%. 3. Therefore, neither statement 1 nor 2 is correct.