Private security industry to reach Rs 40,000 crore mark by 2012

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