UPSC Prelims 2003·GS1·economy·economic sectors and development

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

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Last updated 23 May 2026, 3:31 pm IST
  1. AEdible oil
  2. BFertilizers
  3. COrganic and inorganic chemicals
  4. DPearls, precious and semi-precious stonesCorrect

Explanation

The correct option is D because during the financial year 2001 to 2002, India's import basket was dominated by crude oil and petroleum products, followed by pearls, precious and semi-precious stones. India serves as a major global hub for cutting and polishing diamonds. This industry requires the large-scale import of rough stones, which are then processed and exported. In terms of Rupee value for that specific period, the expenditure on pearls and stones significantly outweighed the imports of edible oils, fertilizers, and chemicals. While edible oils and chemicals are major import items, they did not surpass the high valuation of the gems and jewelry sector during that timeframe.
economy: Among the following commodities imported by India during the year 2001-02, which one was the highest in terms of Rupee v
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