According to experts China has 50 billion tonnes of iron ore reserves. Half of it could be exploited with existing technology. China aims to ensure an annual iron ore output of 250 million tones by the year 2000 by building a number of iron mines. It also plans to launch twenty four key capital projects with a combined productioncapacity of 59.2 million tones in 2000 as compared to the maximum domestic output of 230-250 million tones.

It is worth noting that India's exports of iron and chrome ore to China, registered a fall of seven per cent in 1998, having come down to $228.57 million from $246.92 million in 1997. On the other hand, China's imports of this commodity from Brazil is reported to have increased.

Report from the Embassy also indicates that there is considerable scope for exports of marble, quartz and granite to China. During 1997 China imported granite, crude cut and slab worth $45.35 million. Increasing scope for monumental stones made from marble and granite is also reported as the market for decoration and furnishing industry in China is stated to be growing.

India's exports of iron ore as a whole has declined by Rs 6.69 billion at Rs 193.20 billion during April 98-February 99 from Rs 199.89 billion registered in the similar period of previous year. Similarly exports of granite and its products declined by Rs10.07 billion at Rs 76 billion for under the review from previous year's Rs 86.07 billion. Exports of marble and marble products declined by Rs 6.52 billion at Rs 4.70 billion from previous year's Rs 11.22 billion.