Question

Arrange the following commodities in descending order according to their share in India's import (2021-2022)?
(A) Petroleum, oil and Lubricants
(B) Chemical Products
(C) Fertilizers and fertilizer manufacturing
(D) Iron and Steel
Choose the correct answer from the options given below:

• A. (A), (B), (C), (D)
• B. (A), (C), (D), (B)
• C. (C), (A), (D), (B)
• D. (C), (B), (D), (A)

Hint:

For questions on India's trade, always remember that 'Petroleum, Oil, and Lubricants' (POL) is the largest import item, and 'Electronic Goods' is also near the top. This helps to quickly eliminate incorrect options.

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
This question requires knowledge of the composition of India's imports for the fiscal year 2021-2022, specifically the ranking of major commodity groups by value.
Step 2: Detailed Explanation:
Based on data from the Ministry of Commerce and Industry, Government of India, for the fiscal year 2021-22, let's examine the import values of the given commodities:

(A) Petroleum, oil and Lubricants (POL): This is consistently India's single largest import item by a significant margin, accounting for a substantial portion of the total import bill.
(B) Chemical Products: This is a very broad category. Organic and Inorganic Chemicals alone constituted a major import item. When considered as a whole group, it ranks very high.
(C) Fertilizers: Imports of fertilizers also form a key part of the import bill, with values surging in 2021-22 due to global price rises.
(D) Iron and Steel: This is a significant import, although India is also a major producer. In 2021-22, its import value was substantial. According to the official data, the approximate ranking by value for these specific items in 2021-22 was:
1. (A) Petroleum, oil and Lubricants
2. (B) Chemical Products (as a broad category)
3. (C) Fertilizers and fertilizer manufacturing
4. (C) Iron and Steel
The correct descending order is therefore (A), (B), (C), (D).
Step 3: Final Answer:
The correct sequence is (A), (B), (C), (D).