Consider the following statements: In the last five years, Indian software exports have increased at a compound annual growth rate of about 60% The software and service industry in India registered an overall growth of about 28% in rupee terms during the year 2001-2002. Which of these statements is/are correct?

- Statement 1 is likely incorrect. While the Indian software export industry experienced very high growth rates in the late 1990s and early 2000s, a Compound Annual Growth Rate (CAGR) of about 60% over a five-year period (roughly 1997-2002) is an exceptionally high figure and generally not supported by industry data for that duration. Annual growth rates might have touched that level or higher in peak years, but the average over five years, especially including the post-dot-com bust slowdown around 2001-02, would typically be lower (e.g., 30-40% range). - Statement 2 is correct. The Indian software and services industry did register significant growth in the fiscal year 2001-2002. Industry reports from NASSCOM for that year indicated growth figures around 28-30% in rupee terms, despite the global economic slowdown.