With reference to 'Red Sanders', sometimes seen in the news, consider the following statements: 1. It is a tree species found in a part of South India. 2. It is one of the most important trees in the tropical rain forest areas of South India. Which of the statements given above is/are correct?

1. Statement 1 is correct. 'Red Sanders' (Pterocarpus santalinus) is a tree species endemic to a distinct tract of forest in the Eastern Ghats region of South India, primarily found in Andhra Pradesh. 2. Statement 2 is incorrect. 'Red Sanders' grows in rocky, degraded, and fallow lands with dry, hot climate. It is typically found in dry deciduous forests, not tropical rain forest areas. While valuable, it is not characteristic or one of the most important trees of the tropical rain forests of South India.