Reliance Industries and Siemens Join Forces to Develop Electronic Security Solutions

<p>Mukesh Ambani run Reliance Industries Limited (RIL) – a refinery to retail mega industrial conglomerate- has entered into a joint agreement with Siemens AG – a Germany based engineering conglomerate – to develop intelligent electronic security solutions in mutual cooperation. As per the official statement released by RIL, the company stated that RIL’s subsidiary ‘Reliance Security Solutions’ and Siemens have signed a memorandum of understanding (MoU) to develop astute security solutions for safe, secure and smarter cities and highways in India.</p>
<p>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 an upsurge of 55 per cent in the last few years and this is expected to continue over the coming years as well.</p>
<p>Presently, in the light of increase in acts of domestic insurgency and terror attacks, and due to the lack of modern safety equipments, there is a growing need for better security solutions in the country. “The role of surveillance and security has assumed greater importance, considering the fact that insurgency and terrorism have become a global phenomenon. There is an emerging need to move over to intelligent electronic security solutions,” stated the RIL statement. With rapidly escalating security needs across various segments such as retail, banking and finance, aviation, and transportation, apart from general public security measures, majors companies of the world are stepping up to take the onus on their shoulders to develop and distribute superior security solutions using modern technology.With prolific development of modern and advanced technical security solutions, India’s security and surveillance market will be able to find a place alongside many leading nations of the world including Britain, Germany and France.</p>
<p>The joint venture between RIL and Siemens is expected to deliver precisely this. Given the technical dexterity and scale of both these organizations, it can be expected that the venture will render itself beneficial to the cause of improving security solutions in the country.</p>