The Securing Asia conference opens up “great market potential” for security companies looking towards India as cities scramble to set up effective security and surveillance systems, according to the event’s organisers.
A series of high-profile incidents have thrust the security landscape across India under international scrutiny in recent months and led to heightened safety fears throughout the country. Concerns over public safety and the continuing threat of terrorist activities means India is a booming market and growing numbers of international security firms are looking to reap the rewards.
Iba Jaggi, head of operations UK and EU for Security Asia, told SecurityNewsDesk the unstable geo-political situation in the sub-continent has contributed to a “wealth of opportunities” for the security sector, with this trend set to continue over the coming years.
Expenditure on security across airports, hotels, transport, banking and the financial sector is predicted to increase annually over the next four years and rises are predicted in both the government and the private sector.
“There has been an increase in the annual defence and homeland security budget year-on-year for the last few years in India and the same trend is expected to be followed for another decade,” Jaggi said.
“The corporate sector in India is expected to scale up their security budget by 30 to 40 per cent in the coming years.”
Increasing surveillance has been one area of major emphasis in varies cities across India in a bid to improve public safety. Jaggi claims all the components associated with such systems currently have “great market potential” in the country.
Securing Asia is designed to benefit firms looking to get into the region’s market as the Asian sector and Western professionals meet in London for the two-day event. With the developments across the region and spending on the increase, the opportunities are seen as vast.
“There has been an impetus on modernisation of Paramilitary and Police forces to take stock of the security concerns in India,” stated Jaggi. “Securing Asia is an ideal platform for the companies to showcase their products in the field of Defence and Homeland Security to the decision makers of the various Asian countries whose delegations that are participating in the summit.”
The Securing Asia conference takes place at the Queen Elizabeth II Conference Centre in London from 24-25 June.
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