Identify, for what percentage of the world's total Iron-ore reserves, India alone accounts for?
20%
The question asks about India's share of the total world reserves of iron ore. Iron ore is a crucial mineral resource used mainly for producing iron, which is a primary component in steel making.
India's Share in Global Iron Ore Reserves
Estimating the exact percentage of any mineral reserve held by a single country can vary slightly depending on the source and the year of data collection. However, based on common geological surveys and resource estimations, India holds a significant portion of the world's iron ore reserves.
According to many reports, India accounts for approximately 20% of the world's total iron-ore reserves. This places India among the leading countries in terms of iron ore wealth.
Analyzing the Options
Let's look at the given options:
- 15%
- 20%
- 25%
- 30%
Based on the widely accepted estimates of India's share in global iron ore reserves, the figure that aligns with these estimates is 20%.
| Country | Approximate Share of World Iron Ore Reserves |
|---|---|
| India | 20% |
| Other Countries (e.g., Australia, Brazil, Russia, China) | Remaining Percentage |
Understanding the distribution of mineral resources like iron ore across the globe is important for studying economic geography and international trade patterns.
Revision Table: Key Iron Ore Facts
| Topic | Detail |
|---|---|
| Mineral | Iron Ore |
| Primary Use | Iron and Steel Production |
| India's Share of World Reserves | Approximately 20% |
| Significance for India | Major mineral resource, contributes to economy |
Additional Information on India's Iron Ore Reserves
India possesses large reserves of high-quality iron ore. The main types of iron ore found in India are:
- Hematite: Found primarily in states like Odisha, Jharkhand, Chhattisgarh, and Karnataka. It is considered high-grade ore with good iron content.
- Magnetite: Found mainly in states like Karnataka, Andhra Pradesh, Rajasthan, and Tamil Nadu. It also has high iron content but requires more processing.
Major iron ore producing states in India include Odisha, Chhattisgarh, Karnataka, Jharkhand, and Goa. The presence of significant iron ore reserves is crucial for India's steel industry and its overall industrial development.
While India has substantial reserves, the global distribution is dominated by countries like Australia, Brazil, Russia, and China, alongside India.
Important Questions from Economics and Central Problems of Economy
If the value of Investment Multiplier is 5 and the increased income is ₹ 800 crore in an economy, then find the value of change in the investment in the economy.
Which of the following statements are true?
(A) Quantitative tools control the extent of money supply by changing the CRR.
(B) There are two types of open market operations – outright and upright.
(C) A fall in the bank rate can decrease the money supply.
(D) Selling of a bond by RBI leads to reduction in quantity of reserves.
(E) The RBI can influence money supply by changing the rate at which it gives loan to the commercial banks.
Choose the correct answer from the options given below:
Paradox of Thrift means :
Match List-I with List-II:
List-I List-II (A) Bank Rate (I) Securities are pledged in order to repurchase (B) Marginal Standing Facility (II) Minimum rate at which funds are provided for long term (C) Repo Rate (III) Also known as Penal Interest Rate (D) Reverse Repo Rate (IV) Central Bank borrows funds from commercial banks Choose the correct answer from the options given below:
Which of the following is not a function of Central Bank ?
