Step 1: Concept Overview:
The task involves pairing notable contemporary Indian artists with their recognized artworks.
Step 3: Detailed Analysis:
(A) G. M. Sheikh: A prominent figure of the Baroda School, Gulammohammed Sheikh's oeuvre is characterized by narrative and allegorical paintings. "City for Sale" (1981-84) stands as one of his signature pieces. Therefore, (A) corresponds to (II).
(B) Bhupen Khakhar: Another significant artist from the Baroda School, Khakhar is acclaimed for his distinctive figurative style that portrays the lives of ordinary individuals. "Janata Watch Repairing" is among his notable paintings. Consequently, (B) corresponds to (I).
(D) Somnath Hore: A master printmaker and sculptor, Hore's creations powerfully convey human suffering. "Children" is a recurring and deeply impactful theme in his art, particularly evident in his 'Wounds' series of prints. Hence, (D) corresponds to (III).
(C) K. C. S. Paniker: A vanguard of modernism in South India and the progenitor of the Cholamandal Artists' Village, Paniker is recognized for his abstract compositions that integrate calligraphic and symbolic elements. By deductive reasoning, (C) corresponds to (IV).
The established pairings are A-II, B-I, D-III, and C-IV.
Step 4: Conclusive Result:
The correct sequence of pairings is (A) - (II), (B) - (I), (C) - (IV), (D) - (III).