India and Iran have had friendly relations that date back thousands of years. This legacy is evident in the interaction between the two nations in cultural, economic and political fields. Iran's economy has improved in recent years; it is now the fifth-largest cement producer in the world with resources in energy, oil, gas, chemical, minerals and agriculture, and is executing important construction projects overseas. Considering that India is the world's second-largest cement producer and poised to become the world’s third-largest construction market, there is significant potential for collaboration between the two countries that remains untapped, especially in areas like construction of large projects, mass housing, solar, wind energy and energy storage solutions. In conversation with Group Managing Editor FALGUNI PADODE and R SRINIVASAN, Dr Davoud Rezaei Eskandari, Acting Consul General, Iran, expresses the hope that this will soon change in view of recent developments. Excerpts:
The size of Iran’s construction market size is projected to achieve an average annual growth rate (AAGR) of over 3 per cent during 2024-2027. Please tell us more about the projects you have undertaken. In which construction segments are your contractors most active?
Based on a recent IMF and World Bank report, Iran's economy is improving. According to the report, Iran's economic growth was 5 per cent in 2023 and 3.2 per cent in 2024. This growth rate is estimated to continue in upcoming years, as well...
