Consider the following items imported by India :1. Capital goods2. Petroleum3. Pearls and precious stones4. Chemicals5. Iron and Steel The correct sequence of the decreasing order of these items (as per 94-95 figures), in terms of value is:
✓ Correct answer: c) 2, 1, 3, 4, 5
ExplanationAs per India’s Foreign Trade Data (1994-95), the highest value of imports was:Petroleum: India imported crude oil in large quantities to meet its growing energy needs.Capital Goods: Machinery, equipment, and industrial tools were imported to support infrastructure and manufacturing.Pearls & Precious Stones: India has a strong diamond and jewelry industry, which relies on imported raw materials.Chemicals: Used in pharmaceuticals, agriculture, and industries.Iron & Steel: Required for construction and heavy industries.In 1994-95, India’s top imports were petroleum, capital goods, and pearls and precious stones, followed by chemi- cals and iron and steel.Today, petroleum remains a key im- port, but electronics, machinery, and gold have gained prom- inence, reflecting shifts in technology and consumer demand.11. SECURITY MARKET IN INDIA 297
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