India’s security industry needs incentives to boost growth: MD, Dahua Technology

The electronic security industry being one of the key industries has got immense potential to grow in India provided some of the issues and problems faced by it are addressed and solved. Mr. Robbin Shen, Managing Director, Dahua Technology says “research and Development play a crucial role in the growth, development and progress of security industry. Therefore, R & D should be given adequate incentives and concessions so that more innovative products and solutions can be introduced in the market to make people and properties safe and secure.
‘Smart City’ and ‘City Surveillance’ projects should have fast track clearance and they should be implemented without delay.”

Although the GST rates have come down from 28 % to 18 % for some items, they should be slashed to 10% for all items uniformly so that more people can afford the security devices and as a result the nation can be safer. All public transport and places, buildings and cooperative housing societies should be mandatorily required to install CCTV cameras to safeguard people and properties.
The security industry needs an apex body like SEBI for business or IRDAI for insurance or TRAI for telecom so that clear cut policies are laid down and issues concerning security matters are promptly dealt with. Training and skilling manpower should be considered as an important component of security industry and the companies which train and impart skill should be given necessary incentives or tax exemptions. That will help India to produce more skilled manpower needed for expansion of security industry and its rural push.