The security sector seems to have a very positive outlook both from an organic and an inorganic growth perspective. Growing urbanisation, coupled with retail boom and increased concerns regarding security of men, money and material has led to rise of organisation under the umbrella of private security segment in India. Inspite of all the success security industry faced many challenges, among which Licensing related issues are major problem.
- Security agencies face issues while procuring the license for setting up a private security. There have been delays at the authority level in granting license to the private security agencies.
- Moreover the regulatory conditions are different in every state, which makes it even more difficult for these agencies to establish a new work location at other states.
- Private security service companies do not have the
authority to procure licensed firearms and have to rely on guards, who have the
license to carry them for personal use. This is one of the most acute problems
the agencies face.