This question is based on India`s import data for the year 2001-02 and asks which commodity had the highest value in terms of Rupees.

Option 1 suggests edible oil. As a rapidly growing country with a large population, India does indeed import significant amounts of edible oil. However, it does not top the list in terms of value.

Option 2 presents fertilizers. India needs large quantities of fertilizers for its agricultural sector, therefore it imports fertilizers. But again, the Rupee value is not the highest.

Option 3 says organic and inorganic chemicals. These are important for several industries, including pharmaceuticals and chemical manufacturing, so India imports these items. But their value in Rupees is less compared to others.

Option 4 suggests pearls, precious and semi-precious stones. India is one of the largest markets for gold and gemstones worldwide. The import of such high-value commodities often holds a considerable rupee value. Therefore, in 2001-2002, the highest import in terms of Rupee value was pearls, precious and semi-precious stones, making option 4 the correct answer.