BusinessHomeland security market in India projected to double
India’s homeland security market is projected to double by 2018, growing to $16 billion; the total market value is comprised of government spending as well as private sector expenditures and some export demand; the homeland security market is expected to expand to $13 billion by 2014 creating significant opportunities for the private sector to provide government needs
The Mumbai attacks raised India's security consciousness // Source: richardsilverstein.com
India’s homeland security market is projected to double by 2018, growing to $16 billion.
The total market value is comprised of government spending as well as private sector expenditures and some export demand.
According to security experts and policy makers speaking at INDESEC, an Indian national security conference, the homeland security market is expected to expand to $13 billion by 2014 creating significant opportunities for the private sector to provide government needs. Venkaiah Naidu, the chairman of India’s Parlimantary Standing Committee on Home Affairs, urged the private sector to work more closely with the government.
“The government and industry should collaborate to upgrade and modernize security systems and communication networks,” he said.
Private-public coordination may face several roadblocks as P.C. Bhasin, the chairman of the National Defense Council for Assocham, India’s leading security industry group, said that many state security agencies lacked the ability to effectively coordinate security measures to protect against India’s various threats.
