Given below are two statements
Statement I: Some of the developing countries have embarked successfully on a process of rapid industrialization.
Statement II: They are referred to as the Newly Industrializing Countries.
In light of the above statements, choose the most appropriate answer from the options given below
1
Both Statement I and Statement II are correct
2
Both Statement I and Statement II are incorrect
3
Statement I is correct but Statement II is incorrect
4
More than one of the above
5
None of the above