India's homeland security market is expected to be worth $16 billion by 2018

AHMEDABAD: India's homeland security market is expected to be worth $16 billion by 2018, said a industry data. Indian market is growing at 35% against 7% globally.

India's share in global expenditure in the sector is also expected to rise to 6% by 2020 from 3.6% now. Government constitutes about 30% of the sectoral spend within the country. "The homeland security mostly covers threats like intrusion prevention and access denial, while solutions include surveillance, radio frequency identification," said Pankaj Jain, project director of Indian Fire and Security ( IFSEC) India exhibition every year.

The forthcoming exhibition will be held during November 1-3, at Noida. "Considering the vulnerability of public and corporates, it is necessary to safeguard our banks, offices, hotels, hospitals, airports, railway stations as well as all critical establishments. Of late, we have seen a rise in awareness amongst the corporates and governments," said Jain.

India's homeland security market is pegged at $1 billion, of which 70% is imports dominated by US, UK, Germany, Taiwan, Japan, China and Israel. It is slated to rise to $16 billion by 2016.

Government constitutes 30% of the total spend for security. Now companies from abroad are increasingly looking at India to sell their products.

Many Indian companies are also entering into joint ventures and transfer of technology agreements with the foreign companies to manufacture products locally. "Of late, the equipments are now based on Internet Protocol (IP) rather than analog to enable real time surveillance," added Jain