The correct answer is option 2. Let`s break down each pair:

I-C: Iron-ore to Japan. Japan has one of the largest iron and steel industries in the world. It imports the majority of its iron-ore, a key element to produce steel, from various countries including India.

II-A: Leather goods to Russia. Russia imports a range of goods from around the world including leather goods from India. The country`s harsh climate necessitates the use of products made of this durable material.

III-D: Tea to the UK. This pairing is very accurate as the UK is one of the major importers of tea globally, with India being one of its main suppliers.

IV-B: Cotton fabrics to the USA. America is one of the world’s largest importers of cotton items, buying particularly from India. Indian cotton fabrics are appreciated worldwide due to their high quality.

The other options do not accurately match the export commodities from India to the country of destination.