The correct answer is Option 2. Here is the explanation:

In option 2, I-B refers to Jamnagar being associated with the woolen textile industry. However, Jamnagar is actually known for its petrochemical industry, specifically Reliance Industries` oil refinery.

II-E refers to Hospet being associated with the Iron and Steel industry. This is accurate as Hospet, in Karnataka, is rich in iron-ore reserves and has several iron and steel industries.

III-A refers to Korba being associated with the Aluminum industry. This is also accurate. Korba, also known as the power capital of Chhattisgarh, is known for its extensive aluminium production units.

Finally, IV-C refers to Haldia being associated with the Fertilizers Industry. Haldia, in West Bengal, is known for its industrial port and houses several industries including the fertilizer industry.

In conclusion, each city in option 2 is accurately paired with the industry it`s known for, aside from Jamnagar which is actually known for its petrochemical industry.