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The
Indian Safety & Security Market Growth Analysis:
The Indian Safety and Security (S&S) market offers excellent growth
opportunities to companies and has proved to be boon for the security
market. The Indian security market is changing due to the realization
in terms of reducing losses against theft, espionage, vandalism and
terrorism. The 9/11 attack in the US and subsequent events in India
significantly changed the perception and the need to provide adequate
levels of security. Electronic security industry remains largely
imported and the Indian security market is close to Rs. 7566.02
million (US $ 187 million).
The market is expected to grow approximately by about 25% as expenses
on safety and security are now being viewed as a profit centre and
thus has a domestic scene. The growth is spurred with the evolution of
technology that provides both security and convenience and the fact
that prices are very reasonable. The total imports are estimated at
Rs. 4855.20 million (US $120 million). Import comprises total market
size of Rs. 7566.02 (US $ 187 million). India is importing 45 million
worth of high-tech safety and security products from the US and
currently it is enjoying an approximately 35 % import market.
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