ELCINA and SPGI are delighted to announce their decision to merge and work together for the progress of the Electronic Systems Design and Manufacturing industry with SPGI functioning as a focussed group for the Security Sector, within ELCINA. The decision was taken during the Annual General Meeting of SPGI held on 1st September 2021, at India Habitat Center, New Delhi.
The two associations are coming together to benefit from each other’s synergies and the key role of electronics technology in the Security industry. Security Products Market is growing rapidly, estimated at 22% per annum and this growth will sustain upto 2025 and beyond. Globally the Electronic Security Market was valued at USD 40.93 billion in 2020 and is expected to reach USD 68.57 billion by 2026, at a CAGR of 8.98% over the forecast period from 2021 to 2026.
India CCTV market, which comprises the lion’s share in security industry, is estimated at about Rs 10,000 Cr and expected to register a CAGR of 22.35% over the forecast period from 2021 – 2026.
Speaking during the SPGI AGM & Industry Meet held on 1st September 2021, ELCINA President Mr Paresh Vasani said, “ELCINA welcomes SPGI members and we believe that as a leading electronics industry association we will bring great value to SPGI as well as synergies with ELCINA members. In our pursuit of promotion of electronics manufacturing and expanding markets, we look forward to supporting the growth of the security sector and bringing its benefits to SPGI – ELCINA members and the domestic electronics industry at large”.
SPGI Chairman, Mr Sanjeev Sehgal, MD of Samriddhi Automations (Sparsh CCTV) informed the gathering, that “for last 7 years SPGI has strived to be the voice and representation of India’s Electronics Security industry at all public platforms, leading to the successful recognition of CCTV as a sub-sector under the Atmanirbhar Bharat policy. As the industry continues to evolve, it is imperative to take the next steps in the right direction, to advance the interests of all stakeholders at bigger platforms and under a strong banner. I firmly believe synergies with ELCINA will strengthen our mission to drive greater impact towards securing policy support and build on SPGI’s long term vision of elevating India’s Security Industry.”
SPGI consists of longstanding players who have contributed to the development of the industry over the last 3-4 decades. Some of its key members including Reliance Electronics, Hanwha International, Bosch as well as MSME’s such as iota international, Securico, Vighnaharta among several others were present for the Industry Meet.
Mr Sanjay Agarwal, Sr Vice President ELCINA and MD, Globe Capacitors Ltd and Mr Amrit Manwani, Immediate Past President, ELCINA and CMD Sahasra Group expressed delight at this positive development and conveyed their optimism at this merger which would give a boost to the security industry which was one of the fastest growing sectors in the country. Some of the SPGI members were already ELCINA members and vice versa and SPGI leadership had been working closely with ELCINA over the years.
Mr Vinod Sharma, Past President ELCINA and MD, Deki Electronics Ltd spoke passionately about the growing opportunities that were available to electronics manufacturers today and the shifting supply chains which India must capitalize on. Collaboration and cooperation were the mantras that Indian companies must embrace which would strengthen the Indian industry, Mr Sharma said.
Mr Shashank Agarwal, Secretary SPGI and MD, Target Security presented the achievements of the association since inception seven years ago alongwith Mr Anoop Sahu, Treasurer SPGI and MD, Hope Security.
ELCINA Secretary General Rajoo Goel commented that “We must target a 20-25% share of the global market by 2025 and aspire for a US$ 10 Bn security products industry by aggressively pursuing export opportunities. We are delighted at the opportunity to work with SPGI members and the Security industry members which has synergy with manufacturers and designers of electronic components and products. The strategic importance of homeland security is growing due to the changing geopolitical scenario which challenging our internal security fabric. State of the art Security Equipment consists largely of electronic components and assemblies which designed using the latest electronics technology.”