Which of the following is the major item of imports?
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Chemical Products
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Iron and steel products
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Petroleum
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None of these
C
Correct answer
Explanation
Petroleum (crude oil and products) is India's largest import item by value, accounting for a significant portion of the import bill due to India's substantial domestic demand and limited domestic production. India imports over 80% of its crude oil requirements. Chemical products and iron/steel are major imports but don't match petroleum's volume and value.