The question is asking you to match the joint naval exercises (List-I) with the countries involved (List-II) and select the correct answer using the given codes.

Option 1: A-2, B-1, C-4, D-3

This means that the joint naval exercise Konkan is between India and France, Malabar is between India and the United Kingdom, Varuna is between India and Russia, and Indra is between India and the United States.

This does not match the correct answer provided.

Option 2: A-3, B-4, C-1, D-2

This means that the joint naval exercise Konkan is between India and Russia, Malabar is between India and the United States, Varuna is between India and France, and Indra is between India and the United Kingdom.

This does not match the correct answer provided.

Option 3: A-3, B-1, C-4, D-2

This means that the joint naval exercise Konkan is between India and Russia, Malabar is between India and the United Kingdom, Varuna is between India and France, and Indra is between India and the United States.

This does not match the correct answer provided.

Option