Statement 1: India's merchandise shipments fell 6.6% year-on-year to $32.91 billion in January 2023, marking a sharp 13.6% sequential decline.
Statement 2: India's import bill for January 2023 was the smallest in 18 months and 15.8% lower than December's revised figure.
Which of the above statements are correct?
(a) Statement 1 only
(b) Statement 2 only
(c) Both Statement 1 and Statement 2
(d) Neither Statement 1 nor Statement 2
