Faster growth seen for security solution cos

MUMBAI: The $2-billion security solutions services industry in India is fast gaining traction, and is growing at an average of 20-22%. That number is likely to go all the way up to 35% over the next one year. With Mumbai still reeling under one of the deadliest terror attacks, security is now the topmost concern for many companies.

���Security will be a boardroom agenda and will get the attention of everyone, be it the chairman, managing director or the chief financial officer,��� said Rituraj Sinha, COO, SIS India, a company dealing in security services. He pointed out that there had been a marked surge in the number of queries from clients.

���Meetings are on, and these could culminate into orders in the next 15-20 days,��� he added. When it comes to dealing with terror attacks, Indian companies and their foreign counterparts are poles apart. ���Some Indian corporates are low on security while multinationals are better equipped. We are receiving enquiries from customers who want to upgrade their security,���said Ramesh Iyer, ED, Topsgrup.