Consider the following statements in respect of BIMSTEC: I. It is a regional organization consisting of seven member States till January 2025. II. It came into existence with the signing of the Dhaka Declaration, 1999. III. Bangladesh, India, Sri Lanka, Thailand and Nepal are founding member States of BIMSTEC. IV. In BIMSTEC, the subsector of 'tourism' is being led by India. Which of the statements given above is/are correct?

I. Correct. BIMSTEC has 7 member States: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand; this remained so till January 2025.

II. Incorrect. BIMSTEC was formed in 1997 with the Bangkok Declaration, not the Dhaka Declaration of 1999.

III. Incorrect. Founding members in 1997 were Bangladesh, India, Sri Lanka and Thailand; Myanmar joined the same year. Nepal joined later in 2004, so it is not a founding member.

IV. Incorrect. Under BIMSTEC sectoral lead arrangements, India does not lead tourism; therefore this statement is wrong.

Hence, only Statement I is correct.