Correct Option (a):
Statement 1 is correct. Minerals and Metals Trading Corporation of India Limited (MMTC Ltd.) is a prominent public sector trading enterprise in India. It is recognized as a major non-oil importer and exporter of various commodities, including minerals, metals, and agricultural products, significantly contributing to the country's foreign exchange earnings.
Incorrect Options:
- Statement 2 is incorrect. The Project and Equipment Corporation of India Limited (PEC) functions under the administrative control of the Ministry of Commerce & Industry, not solely the Ministry of Industry.
- Statement 3 is incorrect. The primary objective of the Export Credit Guarantee Corporation of India Limited (ECGC) is to promote exports by providing credit risk insurance and guarantee services to Indian exporters against non-payment risks. The responsibility for enforcing quality control and compulsory pre-shipment inspection of exportable commodities lies with the Export Inspection Council (EIC), not ECGC.