Chandigarh, March 2 (ANI): A lot of corporate companies in India today want to ensure good security system in their companies following the recent Mumbai terror attacks that shocked the world with hundreds of deaths and many more injured.
But this corporate concern has opened a major scope for the private security agencies and people related to security related equipments' business.
From gadgets to services, the security related industry is witnessing a surge in demand.
CCTV cameras, metal detectors and explosive detectors have seen a great rise in demand.
An increasing number of Indian companies, hotels and retail chains are concerned about security - of their premises and their people.
As yet only 10 per cent of corporate houses in India have proper security systems. And, this has given a boost to the business of security solutions.
According to the Associated chambers of Commerce and Industry of India, the private security business, which is currently at 4.4 billion USD, is expected to reach over 10 billion USD in the next four years.
India's largest electronic security provider, Zicom Security services now have new corporate clients wising to splurge more on safety.
"The IT industry is given SOPS please give us SOPS, reduce duties and you encourage people to invest in security and it will help you in your growth, when Taj and other hotels were attacked, tourism went down people were reluctant to come to India, it affects a lot to the economy of our country so we are saying you will not lose money by reducing taxes in fact you will encourage buying and by buying there will be less pressure on police, less pressure on fire brigade dept and it will help in tourism and growth in revenue of the country that was our plea to the government," says Pramod Rao Managing Director, Zicom Security Systems.
The rising demand for security services has lead security agencies to employ and train more security personnel.
The service providers are leaving no stone unturned, following strict guidelines for licensing and training as per the Private Security Agencies Regulation Act 2005 and are customizing their services as per the needs of the clients.
An estimated over 200,000 security professionals would be required at various industrial installations over the next few years.
"As far the corporate are concerned, we have tried to take more of the security agencies like in hospitals. We also run a hospital. We are putting more equipment to see anybody is going in, the equipment is screened. In factories and offices we put little more security equipments to see whatever measures can be taken but ultimately it's the public who has to really feels the ears and eyes and they have to cooperate with the policy makers," said Onkar S. Kanwar, Chairman and Managing Director, Apollo Tyres Ltd.
As the corporate houses ramp up their security, many players in the industry have flooded the market with latest security gadgets, to cater to the needs of their clients.
Most of the hi-tech safety apparatus is imported from Israel, Taiwan, Korea, China, the UK and the US.
Sophisticated security-related electronics market is expected to touch 360 million USD in the next five years.
"There is definitely a change taking place. When you are being called by a corporate to come and have a survey of the place and suggest what kind of security can you provide there is a lot of demand coming in? Even the IT companies anyone you name they are all going for this. Even the pharmaceutical companies, IT companies and manufacturing companies everybody is going for this," said Anup Singh, Director, Protection World (India), Chandigarh.
Despite slowdown corporate houses have already enhanced security budgets by at least 35-40 percent in a bid to plug security loopholes.
The rising security concerns have opened up new vistas for security solution providers. By Sunil Sharma (ANI)
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