Importance and Growth of Private Security Industry in India

Importance 

The importance of security services is rising day by day. Fast-paced economic development in various sectors such as financial services, infrastructure, real estate, retail and others has been responsible for the growing demand of security services in India. Business is booming in these sectors and as a result, it has become urgently necessary to employ an increasing number of security men for protecting the offices, outlets and shopping malls that have been set up for facilitating these businesses. With the tremendous growth in the Indian economy, the requirement for enhanced security at various places such as metro stations, airports, railway stations, movie halls, industrial parks and other public places has become an urgent necessity. Also, it is notable that the Indian government don`t provide security for private business establishments and in such a situation, the private security guards prove to be immensely useful.  

The government provides guards and policemen for protecting the residential premises of VVIPs, VIPs and other high-ranking government officials only. This has left the non-VIPs of the country with no other option but to opt for privatised security, for safeguarding their residences and properties.  

At times, private security personnel have been found to be more effective than the govt. appointed guards in foiling thefts, robbery, etc. and in nabbing criminals intruding on their area of duty. This is why most people prefer to employ privatised security guards in their offices and residential complexes.  

Growth 

The private security industry is very rapidly growing and mushrooming in India. The industry came into existence during the 1960s and at that time, there were only a few people involved in it. Now, there are lakhs of people engaged in the privatised security industry, in India.  

The privatised security industry in the Indian subcontinent is currently growing at an annual rate of 25 percent. This growth rate is likely to increase exponentially in the coming years.  

This extraordinary growth of the private security industry is heavily influenced by factors such as recurrent terrorist attacks in India, the lack of sufficient numbers of police or military personnel to counter terror threats and the feeling of insecurity resulting from daylight robberies, murders, burglaries and other crimes that are increasing at an alarming level. Besides, the business of setting up a security firm is a profitable venture and this has led to the extraordinary growth of security companies in our country.  

It is notable that the numbers of private security guards have surpassed the numbers of police personnel who are currently operational in the country. According to available data, now there are more than 5 million privatised security guards in India while the strength of police officers is only 3.2 million.

Rakhi Rathaur is a freelancer who writes on a wide range of topics such as national security, private security industry, security and housekeeping services in India and other related issues. If you are eager to have a glimpse of her write-ups, then log on to the website servelsecurity.net.