Growth of Private Security Industries

Growing urbanisation, coupled with retail boom and increasing concerns regarding security has led to a rise of organisations catering to the private security segment in the country. Development of infrastructure and industries, residential complexes offers a sea of opportunities to the growing security industry. The Indian security services industry has grown rapidly in the last decade, given the continuing threat perception from crime and terrorism; demand for security in new infrastructure projects such as airports roads and telecom towers; emergence of modern retail and growing need for security for movement of cash within the banking system.

The industry is expected to witness robust growth driven by sustained security threat perception and increase in labor wages according to statutory guidelines. Procurement and retention of quality manpower is the key challenge facing the industry. Manpower procurement and retention is expected to get tough with increase in alternate employment opportunities and rapid rise in manpower requirement to support the industry’s growth. Still Indian security services industry is expected to reach INR 800 billion by 2020. It is a sector with huge potential. It has the potential to be the second-largest employment generator in the country.

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