Brazilian miner Vale (VALE3.SA), opens new tab is preparing to meet rising iron ore demand from India, which could double its steel production by the end of the decade, Chief Executive Gustavo Pimenta told Reuters.

Rising sales to India and other Asian markets should help to offset stagnant demand from China, where steel production has flattened to near 1 billion metric tons annually and could decline slightly in coming years, he said.

The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.

“India has 1.6 billion people, has surpassed China, and needs massive infrastructure investments, which means a lot of steel,” Pimenta said in an interview at Vale’s Rio de Janeiro headquarters on Friday.

He said the capacity of India’s steel producers is likely to double to around 300 million tons in the next five to seven years.

Vale’s high-grade ore blends well with India’s lower-quality supply, Pimenta added, creating opportunities for both markets.

“We bring quality to the Indian mix. As steel output doubles, we see a big growth opportunity,” Pimenta said.

India is expected to import about 10 million tons of Vale’s ore this year, up from almost none a few years ago, but still a small fraction compared to China, which accounts for around 60% of Vale’s sales.