Private security industry to reach Rs 40,000 crore mark by 2012
Chandigarh, Feb 23 (PTI) The size of private security industry in India is expected to nearly double in next four years on the back of increasing demand from services and manufacturing sectors, Central Association of Private Security Industry (CAPSI) today said.
"At present, the size of private security industry in the country is about Rs 21,000 crore which will reach Rs 40,000 crore by 2011-2012," CAPSI Secretary General Ravee said.
Private security agencies would require more manpower to meet the increasing demand from services and manufacturing sector, he added.
"We have about 9,000-10,000 security agencies in organised and unorganised sectors for several purposes, including cash services, manned security etc. So, they need people and their requirement in coming time will increase further," Ravee said.
However, the lack of trained manpower is the major bottleneck in bridging the gap between demand and supply for security men, he added.
"There is an urgent need to have an infrastructure put in place related to training and education of aspiring students so as to cater to this sector efficiently," he said.
Although the security industry is regulated by Private Security Agencies Regulation Act 2005 "only three state governments, Punjab, Gujrat and Maharashtra have accepted the rules under this act," he said. PTI
Sunday, February 24, 2008
50% of malls may shut down by 2010: Experts Opinion
50% of malls may shut down by 2010
Press Trust of India / Mumbai February 24, 2008
Consolidation in the retail industry would result in nearly 50% of the malls shutting down by March 2010 and the hoopla surrounding the sector would considerably subside by then, a brand expert has said.
"By March 2010, around 50% of malls would close down while retailers focusing on consumers would thrive. Those who focus on investors, however, will not survive," Samsika Marketing Consultants Chairman and Managing Director Jagdeep Kapoor told PTI here.
Retailers think that consumer demand had increased but they do not realise that consumers had also become more demanding, he said. "Those who will understand both will survive." Retailers were concentrating more on expansion which was not enough for surviving in a market that was becoming intensely competitive, he said.
"They need to look at depth by improving their services and focusing on how to retain the consumer." By the end of the calendar year, margins of organised retailers were likely to decline, Hypercity CEO Andrew Levermore said.
"Retailers, especially in the food and groceries business, would be the worst affected." "We will see some consolidation and mergers and acquisitions happening in the sector," Levermore said.
However, two categories of retailers would survive in this scenario - the ones with deep pockets who could sustain losses for a long period and the others who had accumulated experience in the sector, he noted.
Press Trust of India / Mumbai February 24, 2008
Consolidation in the retail industry would result in nearly 50% of the malls shutting down by March 2010 and the hoopla surrounding the sector would considerably subside by then, a brand expert has said.
"By March 2010, around 50% of malls would close down while retailers focusing on consumers would thrive. Those who focus on investors, however, will not survive," Samsika Marketing Consultants Chairman and Managing Director Jagdeep Kapoor told PTI here.
Retailers think that consumer demand had increased but they do not realise that consumers had also become more demanding, he said. "Those who will understand both will survive." Retailers were concentrating more on expansion which was not enough for surviving in a market that was becoming intensely competitive, he said.
"They need to look at depth by improving their services and focusing on how to retain the consumer." By the end of the calendar year, margins of organised retailers were likely to decline, Hypercity CEO Andrew Levermore said.
"Retailers, especially in the food and groceries business, would be the worst affected." "We will see some consolidation and mergers and acquisitions happening in the sector," Levermore said.
However, two categories of retailers would survive in this scenario - the ones with deep pockets who could sustain losses for a long period and the others who had accumulated experience in the sector, he noted.
Subscribe to:
Posts (Atom)