Statement I is correct: Based on authoritative text from NCERT standard biology textbooks, the diversity of rice in India is incredibly rich, and there are indeed an estimated 200,000 varieties of rice found in India alone.

Statement II is incorrect: The statement claims there are only 7 documented varieties of Basmati. In reality, there are 27 documented varieties of Basmati rice grown in India, making this statement factually false.

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