The Security and Surveillance market is looking increasingly positive post the BJP government’s focus on the 100 Smart City initiative. The budget allocation for this initiative is currently at Rs 48,000 crore and while this is a modest beginning, for the proper implementation of the same, the sector is looking at the Union Budget 2016-17 for a detailed road map and greater funds allocation.
The Modi government has indeed done a stellar job in boosting the country’s economic development, generating employment for both skilled and unskilled labour as well as increasing the country’s exports. This along with the focus on homeland security and safety of citizens, goods and property has imbibed a positive vibe in the economy.
The Industry also expects significant reduction in import duties of security equipment and facilitation of import to make these items within the reach of common man so that surveillance in India becomes a community initiative. Given that both homeland and external security is on the top of the agenda for India, the expectation from the Union Budget 2016-17 is that it will provide the central and state government along with the various central and state agencies with proper directions, infrastructure and resources for dealing with threats and attacks on security.
This in turn will promote the country as a tourist and business friendly destination which will work wonders for the economic growth and prosperity of the country.
Anand Navani, Country Manager, Verint Systems, India