FICCI organises Private Security Industry Conclave

FICCI has organised a Private Security Industry Conclave to take place on December 2, 2015 at New Delhi. The conclave aims to deliberate on the key functional and policy related challenges that hamper the growth potential of the industry. The objective of the conclave is to bring together the government, major industry players, controlling authorities, user agencies and other stakeholders to highlight the concerns of the Industry and to ensure a larger role for the private security services in the development of the nation.
With liberalization and growth of the Indian economy, the demand for private security has increased substantially. Another important factor contributing to this demand is the uneven police-population ratio in India.

There are about 137 policemen to 100,000 people in India against the standard of 222 prescribed by the United Nations. The industry has scaled its operational capabilities significantly to meet the growing demands of security in the country. Over the last decade, the Private Security Industry (PSI) has evolved to assist the national homeland security machinery by taking on the watch and ward function to a great extent. Today, private security personnel protect thousands of business establishments, industrial facilities, residential colonies, corporate parks, mines, manufacturing sites, ports, airports, shopping malls, public utilities, banks amongst others. According to latest estimates, over 60 – 70 lakhs private security personnel are currently engaged in assisting government law enforcement machinery in securing assets and protecting lives across India.

Facts & Figures
•    Present business is estimated to be approximately INR 30,000 crore
•    Industry growth rate is estimated at a CAGR of 18-20%
•    Large contribution to the exchequer by way of service tax, provident fund, contributions to employees insurance etc.
•    The sector currently employs 6-7 million employees and is estimated to employ more than 11.8 million employees by 2022
•    The services segment of the industry is largely un-organised and highly fragmented
•    There are about 16,000 registered agencies in India