Given below are two statements:

Statement I: The Indian Government has set up GEAC, which will make decisions regarding the validity of GM research.

Statement II: Biopiracy is the term used to refer to the use of bio-resources by native people.

In the light of the above statements, choose the correct answer from the options given below:

1
Statement I is true but Statement II is false
2
Statement I is false but Statement II is true
3
Both Statement I and Statement II are true
4
Both Statement I and Statement II are false

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