Explanation:

India imports helium for its needs, and with the U.S. appearing set to cut off exports of helium since 2021, Indian industry stands to lose out heavily.

• Helium is colourless, odourless, tasteless, inert and a noble gas.
• Yet, it finds many applications, mainly in magnetic resonance imaging (MRI) scans, in rockets and in nuclear reactors.
• Dutch physicist Kamerlingh Onnes liquefied Helium by cooling the gas to -270 degrees Celsius.
• India’s Rajmahal volcanic basin in Jharkhand is the store house of helium trapped for billions years. At present, India is mapping the Rajmahal basin extensively for future exploration and harnessing of helium.
• From the oil drilling operation in Dexter, Kansas, in the U.S., chemists Hamilton Cady and David McFarland discovered the presence of helium in natural gas. They further went on to discover that despite its overall rarity, helium was concentrated in large quantities under the American Great Plains.
• The U.S. became the most important exporter of helium across the world. It was soon realised that U.S. was also the biggest store house of helium.
• The U.S., now, is planning to switch off export of helium from 2021. Qatar is a possible exporter but acute political and diplomatic wrangles have made Qatar unreliable.

Hence both statements are correct.