The correct option is A
1 and 2 only
Explanation:
Statement 1 is correct: SAARC is an economic & geo-political organization of 8 countries that are primarily located in South Asia.
Statement 2 is correct: SAARC observer states - Australia, China, the European Union, Iran, Japan, the Republic of Korea, Mauritius, Myanmar and the United States of America.
Statement 3 is incorrect: South Asia Satellite which is a communication satellite built and operated by ISRO, was launched in 2017. India wanted the project to be a "gift" to its neighbours under its Neighbourhood First Policy, hence it was funded by India only.