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The Mumbai attack of 26/11 brought the Indian private security industry or the manned guarding industry in the focus. The security guards of Hotel Taj were the first ones to encounter the terrorists and many experts commented that had the guards been trained and armed to face the situation, the story would have been less tragic.
The Mumbai attack of 26/11 brought the Indian private security industry or the manned guarding industry in the focus. The security guards of Hotel Taj were the first ones to encounter the terrorists and many experts commented that had the guards been trained and armed to face the situation, the story would have been less tragic.
The industry was born in the 60’s with a handful of players. According to industry sources, Private Security Industry is estimated to be worth INR 22,000 crore and is likely to cross INR 40,000 crores by 2015. The industry growth could be attributed to the key drivers like growing urbanization and increasing insecurity, mushrooming of shopping malls and self contained townships, frequent terror attacks, shortage of police personnel and last but not the least security agency itself being a profitable business. A more economic justification for engaging private security is that insurance companies particularly fire insurance carriers will give substantial discount to sites as presence of security reduces odds of incidence.
As early as in 2006 it was reported that the industry was paying Rs 10,000 crores to the exchequer by way of service tax, provident fund, contributions to employees insurance etc. The PSA’s have become an important segment of the economy, by not only contributing to the Government but by generating employment opportunities for urban and the BPL youth.
The industry’s most notable growth has been in the past 6-7 years, with a CAGR of over 25 %. The number of companies operational is approximately 15000 including both unorganized and organized. There are over 5 million private security guards available as compared to 3.2 million police officers contributing to one of the major factors in boosting the demand in the industry. Today the industry is perceived to be growing at 40%.
Team Leader
Sumeet Gupta
Assistant Secretary GeneralTimeline
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2015
2014
2013
May
Apr
Press Release
"We need to identify the risk disrupting our growth and mitigate them": Mr Rajendra Ratnoo, ED-NIDM Ministry of Home Affairs
Dec
Survey
India Risk Survey
Mar
Press Release
FICCI-Pinkerton 'India Risk Survey' identifies Natural Hazards, Cyber Insecurity and IP theft as top three risks for businesses
Nov
Event
Unmasking the Fraud - The Legal Way
Sep
Press Release
3 bills on labour reforms to be tabled in upcoming parliament session - Santosh Gangwar
Event
Future of Private Security Industry - Code on Wages: Safeguarding Rights of Lakhs of Essential Services Workers
Aug
Press Release
Industry should focus on producing private security equipment in India and for export market: Nitin Gadkari
Event
Future of Private Security Industry - Atmanirbhar Bharat: Boosting MSMEs for Quality Security Services & Manufacturing of CCTV and Fire Safety Systems
Nov
Jun
Event
Seminar on New Age Risks 2017
Sep
Dec
Press Release
Indian security services industry expected to grow from INR 40,000 to 80,000 crore by 2020: FICCI-Grant Thornton report
Nov
Sep
Policy
Discussion Paper on Private Security Agency Regulation Act 2005
Policy
Proposed Guidelines for Cash Logistics companies in India
Policy
Armed Security for Cash Logistics
Jun
Policy
Private Security Workers - Request for categorization as Skilled / Highly Skilled workers under Central & State Minimum Wages
