Which of the following statements regarding 39 Marine Products Export Development Authority MPEDA 39...........

Indian Polity Statutory Bodies

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Which of the following statements regarding 'Marine Products Export Development Authority (MPEDA)' is/ are correct?

1. MPEDA is a statutory body established in the year 1972.

2. MPEDA functions under Union Ministry of Food Processing.

Select the correct answer using the codes given below

1 Only

2 Only

Both 1 and 2

Neither 1 nor 2

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Explanation:

First option is correct.

MPEDA is a statutory body that has been created under the MPEDA Act, 1972. The body functions under the Ministry of Commerce and Industries.

The Marine Products Export Development Authority (MPEDA) is a Government of India company headquartered at Kochi. It was constituted on 20 April 1972, under the Marine Products Export Development Authority Act 1972.
The role envisaged for the MPEDA under the statute is comprehensive - covering fisheries of all kinds, increasing exports, specifying standards, processing, marketing, extension and training in various aspects of the industry.
MPEDA functions under the Department of Commerce, Government of India and acts as a coordinating agency with different Central and State Government establishments engaged in fishery production and allied activities.