GS PrelimsEconomyExternal Sector2003

Among the following commodities imported by India during the year 2001-02, which one was the highest in terms of Rupee value?

A

Edible oil

B

Fertilizers

C

Organic and inorganic chemicals

D

Pearls, precious and semi-precious stones

Correct Answer: Option D

Explanation

1. The question asks which commodity among the options had the highest import value for India during 2001-02, in Rupee value. 2. India's major imports typically include petroleum (POL), capital goods, electronic goods, pearls/precious stones, gold, and chemicals. 3. Evaluating the options: - (A) Edible oil: Significant import, but usually less than POL or pearls/stones. - (B) Fertilizers: Important, but value generally lower than other major categories. - (C) Organic and inorganic chemicals: Substantial import value, but often less than POL or pearls/stones. - (D) Pearls, precious and semi-precious stones: This category (Gems and Jewellery sector inputs) traditionally constitutes a very large portion of India's imports by value, related to the export-oriented gems and jewellery industry. 4. Comparing these categories for 2001-02, Petroleum (POL) was the single largest import item. However, POL is not an option. Among the given options, Pearls, precious and semi-precious stones typically ranked very high, often second only to POL, due to the large volume of trade in the diamond and jewellery industry. It is highly likely this category had the highest value among the choices provided. 5. Therefore, the correct answer is (D).

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