FICCI-PwC-Report-on-Private-Security-Industry.pdf - Indian...

This preview shows page 1 - 5 out of 36 pages.

Indian private security industry Preparing for the next leap A report on the key functional and policy challenges to the growth of the private security industry in India
PwC 2 Table of contents Foreword 3 Executive summary 5 Industry overview 6 The existing policy frameworks 13 Comparison with global policies 15 Stakeholder view on policy 21 Expert insights 24 Policy-level challenges 26 Industry speak: Operational challenges 27 Way forward 29
Indian private security industry: Preparing for the next leap 3 Secretary General FICCI Dr. Sanjaya Baru The rapid growth of the private security industry is both a reflection of the inability of government security agencies to provide adequate security to private property and of the growing sophistication of the requirements of the private sector. In the context of current policy and regulatory developments in the country, the private security industry will continue to play an important role. More investments coming into manufacturing and other related industries will not only trigger the demand for private security personnel but also compel the industry to adopt processes and practices in sync with international standards. The contribution of this sector to employment generation in India is unique. Private security industry provides employment to a large number of rural youth, which otherwise would have remained outside the fold of formal employment. The industry presently provides employment to over 8 million people and has the potential to become the second largest employment generator in the country. This report addresses various policy challenges that are hampering the growth of this industry, and the ways to mitigate them. I would like to acknowledge the efforts of industry members, who have provided valuable inputs and deep insights for the report. I hope that the information presented in this report will serve as a valuable reference to all stakeholders. Foreword
PwC 4 Pankaj Khurana Partner, Government and Internal Security PwC India The business world is becoming increasingly fast- paced and highly competitive. While the core business operations team is busy responding to evolving customer preferences, strategic moves of the competition and technology -driven disruptions, someone needs to diligently ensure the safety and security of the company’s people, premises and assets. Professional prevention and management of security breaches, accidents and incidents are critical to any company’s operational health. The rapid evolution of the private security industry globally and in India is testimony to this. The private security industry has witnessed higher than 20 per cent growth in the recent past and is expected to continue to do so owing to rapid infrastructural and economic development. The private security industry is amongst the largest employers in India, employing more than 8 million.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture