The security industry is reeling from the exorbitant custom duty levied on security products, but the state government has failed to respond to their demands.
The security industry is reeling from the exorbitant custom duty levied on security products, but the state government has failed to respond to their demands.
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Following the 26/11 terror attacks, the private security industry did get a boost. But as of now, the FSAI (Fire and Safety Association of India) has expressed unhappiness over the manner in which the state government is dealing with the security industry.
Earlier, the FSAI, which compromises 350 organisations dealing in safety and security devices, had earlier made recommendations to the finance minister stressing the need to take the security industry more seriously.
Around a month back, FSAI sent a letter to the finance minister asking the government to consider reducing the customs and other duties on security products from 32-35 per cent to the minimum rate for the next three years.
They believe that the slashing of custom duty to the minimum for at least the next three years would benefit the security industry and also ensure that more security products are used by commercial establishments and retail consumers.
Pramoud Rao, Mumbai Chapter President, Fire and Safety Association of India said, "We have approached the government with great expectations. We believe they will increase the standard of the security industry in the city, but so far no action has been taken. We had approached the government a year back with a recommendation of slash custom rates. The reason for demand was that most of security apparatus that is required by consumers is made by foreign companies and have to be imported. The custom duty levied on such items is exorbitant it becomes difficult for security agencies in the city to bring them in."
| What is FSAI?
Fire & Safety Association of India was established in 2002 and incorporated as society with Tamil Nadu Societies Registration Rules 1975 (Tamil Nadu Act of 1975). FSAI is a non-profit organisation representing those practices the field of Fire Protection and Safety Engineering. Its primary purpose is to promote the use of fire and safety system with advanced science. The association also aims to maintain high ethical standard among its members and foster fire and safety engineering education. |
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