Explanation:

Only statements 1&2 are correct.

India-Middle East-Europe Corridor (IMEC)

• The India-Middle East-Europe Economic Corridor (IMEC) Project was signed at the G20 Summit in New Delhi, which holds significant geopolitical and economic implications for India. 

• It aims to enhance transportation efficiency, reduce costs, increase economic unity, generate employment, and lower Greenhouse Gas (GHG) emissions. 

• India, the US, Saudi Arabia, UAE, the European Union, Italy, France, and Germany are the only signatory countries. 

• The costs for development are estimated to be substantial, and funding sources need to be identified. 

Hence option 2nd is correct.