India possesses substantial iron ore reserves. The states are ranked from highest to lowest based on total reserves and production:
Odisha (IV) leads in iron ore reserves across India.
Jharkhand (I) is second for both reserves and production.
Chhattisgarh (III) is in third place.
Karnataka (II) follows, with reserves lower than the previously mentioned states.
The correct sequence is therefore: Odisha, Jharkhand, Chhattisgarh, Karnataka.
The corresponding correct option is (C): IV, I, III, II.