Explanation:

Paraguay is a landlocked country in south-central South America.

• Rivers provide access to the Atlantic Ocean and serve as sites for the hydroelectric power plants that have made Paraguay one of the world’s largest exporters of hydropower.
• Paraguay is a member of MERCOSUR.
• The Southern Common Market (MERCOSUR for its Spanish initials) is a regional integration process, initially established by Argentina, Brazil, Paraguay, and Uruguay, and subsequently joined by Venezuela and Bolivia.
• India has a preferential trade agreement with MERCOSUR.
• It had set up its mission in Delhi in 2006.

Hence only statements 1&2 are correct.