Statement 1 is correct: With 1,210,000,000 (1.21 billion) people, India is currently the world's second largest country. India crossed the one billion mark in the year 2000, one year after the world's population crossed the six billion threshold.
Statement 2 is incorrect: According to a survey by the United Nation Human Resource Council, India's population is expected to surpass the population of China, currently the most populous country in the world, by 2030. At that time, India is expected to have a population of more than 1.53 billion while China's population is forecast to be at its peak of 1.46 billion (and will begin to drop in subsequent years).