Mukesh Ambani led Reliance Industries Limited (RIL) is making headway in its efforts towards building strong homeland security solutions in India.
MUKESH AMBANI-led Reliance Industries Limited (RIL) is making headway in its efforts towards building strong homeland security solutions in India. The energy-to-retail conglomerate is presently in talks with major American defense contractor – Raytheon - to form a joint venture which will look at opportunities for developing homeland security solutions in India and abroad. The talks have reached an advanced stage, as per company representatives, and are likely to materialize into a concrete JV soon.
Raytheon is the fifth largest military contractor in the world and fourth largest in the US. It is also the world’s largest producer of guided missiles. Raytheon is most well known for its weapons and military and commercial electronics core manufacturing capabilities. Through a partnership with India’s largest private sector conglomerate, Raytheon will provide Reliance Industries access to high-end security products and electronics engineering solutions for building a strong homeland security system. In doing so, RIL will have access to advanced resources to innovate and develop key security technologies for India and perhaps other countries as well, while Raytheon will be able to gain access to one of the fastest-growing markets for homeland security solutions.
Reliance Industries' homeland security and aerospace division is presently being headed by VivekLall. This subsidiary is looking to gather high-end resources in order to develop an advanced security solutions system which is likely to benefit the country a great deal. RIL has also entered into a joint agreement with Siemens AG – a Germany-based engineering conglomerate - to develop intelligent electronic security solutions with mutual cooperation. As per the official statement released by RIL, RIL’s subsidiary ‘Reliance Security Solutions’ and Siemens have signed a memorandum of understanding (MoU) to develop smart security solutions for safe, secure and smarter cities and highways in India. The JV has also been shortlisted by the Maharashtra State government to support an initiative that aims at securing Mumbai city by installing home land security systems, such as video surveillance cameras, command and control centers and data serves across the city.
India' homeland security industry is currently valued at $8 billion. This figure is expected to grow to $14 billion in the next three years and to $16 billion by 2016. India’s safety and security market is currently valued at around US$ 500 million and expected to grow by more than 30 per cent in the coming years. The video security equipments segment (including CCTV) has already seen a rise of 55% in the last few years and this rate is expected to continue over the coming years as well.