The demand for security services is increasing due to rising urbanisation, the real and perceived risks of crime and terrorism, belief that public safety measures are insufficient, and the growth of a middle class with assets to protect and means to pay for supplementary security measures. The security service market is also supported by an improved economic environment and building construction activity. The private security sector has emerged as a major industry by virtue of the employment of large manpower, both skilled and unskilled, to meet the burgeoning demands of the corporate sector. With national security assuming greater criticality and lower police to people ratio in the country, private security industry can act as extended arms of the law enforcement agencies. This will help relieve police forces from non-critical duties to focus on core areas. With the anticipated growth of the industry, the employment opportunities are tremendous. Since, majority of the workforce employed is in the unorganized sector, the potential for skilling is evident. Current time requires private security personnel to multitask and use technology to perform security, safety and facilitation functions. Skill development, especially Recognition of Prior Learning (RPL), reskilling and upskilling are key issues, and therefore, investment in human capital is vital in preparing this industry to take on greater responsibilities. The regulatory framework governing this industry also needs proper enforcement. Unorganized segment has largely remained unchecked and players usually skip adhering to mandatory compliance requirements, which creates a detrimental impact for all stakeholders including employees and clients. It is imperative for the governments to ensure strict enforcement of the regulations that will improve service delivery quality levels as well as work environment for the security personnel. – DILIP CHENOY Secretary General, FICCI The Indian personal security market was estimated at INR 57,000 crore (USD 8.8 billion) in 2016 and is likely to touch INR 99,000 crore (USD 15.2 billion) by 2020, and INR 1.5 lakh crores (USD 23.1 billion) by 2022. Apart from revenue growth, the private security industry (PSI) is also evolving in its employment practices. Leading industry players are setting new standards by focusing on training and skill development of their people and customer satisfaction, establishing employee. welfare funds, ensuring timely payment of salaries, and defining career progression paths for high-performing employees. The Indian economy, as per the latest World Bank figures, is now the world’s 6th largest economy, and is expected to grow at 7.4% in 2018 and 7.8% in 2019. With the economy and businesses growing, security needs are also expanding, which is further necessitated by the ever-increasing security risks and related threat perceptions. Deployment of specialised personnel and systems to prevent and manage security risks and threats including accidents and incidents are vital for peaceful operations at a place. Therefore, the need for implementing security measures and systems at public places such as airports, railways and metro stations, shopping malls and markets, hotels and public utilities, as well as industrial complexes, commercial spaces, offices and residential blocks has risen multi-fold. Indian Private Security Industry (PSI) has also expanded at a compounded annual growth rate (CAGR) of around 20% over the last decade by adding new players in the field as well as scaling their operational capabilities. In fact, private security in India is the 2nd largest sector, after agriculture, in terms of employment, with close to 9 million employees. Traditionally, it has been an unorganised sector with only around 40% of the market share with the organised players. However, the industry is progressing towards being organised as the consumer demand for security is gradually evolving from a mere guard to a professional and skilled guard, trained for movement of men and material, fire incidents, medical exigencies etc. Further, technology is progressively playing an ever-increasing role in the valueaddedd services being offered by the industry that include artificial intelligence, internet of things, hi-tech surveillance systems, biometric technologies, remote sensors, cyber security etc. – CDR GAUTAM NANDA Leader – Aerospace, Defence & Security Associate Partner – Government Advisory, BDO India LLP The private security industry is amongst the largest employers in India, employing almost 8.9 million people, with the potential to employ 3.1 million more by 2022. The PSI also has a unique distinction of being the largest corporate tax contributor to the national exchequer. As per a study by The Guardian, the global market in the year 2017 was USD 180 billion and is expected to be worth USD 240 billion by 2020. In contrast, the Indian private security industry (PSI) is expected to grow faster at about 20% CAGR owing to the changing landscape of the sector in India. However, there remains a shortfall of manpower of about 30% with a potential to generate a number of jobs for the rural and urban poor. Workforce size of PSI is more than the combined strength of the Army, Navy, Air force and Police put together. With 8.9 million security guards and 1.9 million police officers, India has 5 times as many private security guards than police officers. The sanctioned strength of police personnel (civil and armed) in 2016 was just 2,464,484, which the employment in the PSI far exceeds. The following table shows data derived from Forbes and Statista estimates, depicting the ratio of personnel employed in private security to that in police force in selected countries. The figures show that India whilst topping the list, far exceeds other countries in terms of the divide between personnel employed in PSI and police force. Clearly, there is a vast potential for the large workforce in PSI to provide allied police services along with the law enforcement agencies to fill up the current gap. However, it would require an appropriate policy framework. Some of the allied police services which are globally outsourced to private security are: Security of the outer periphery of prisons and transportation of prisoners. Senior citizen preventive security services. Street surveillance and video control room management. Assist police in handling emergencies and disasters. Background verification of employment applicants. Security management for…