Mr. Ashish P. Dhakan, MD & CEO, Prama Hikvision (India) Pvt. Ltd.
An Interview with
Mr. Ashish P. Dhakan,
MD & CEO,
Prama Hikvision (India) Pvt. Ltd.
Q1) How is the security landscape in India ? How is it internationally ?
Well, the security landscape in India is quite conducive and congenial. All major sectors in India are expanding and therefore necessitating security cover. The major initiatives of the Modi Administration such as 'Digital India', 'City Surveillance', 'Smart Cities' and 'Demonetization' have thrown open a flood gate of opportunities for the security industry in India. India's security market has now topped Rs.6800 crore or USD 1 billion. The growth will be pretty good this year also.
Increase in militancy, rising crimes, growing economy and falling prices of security devices have accelerated the security industry's growth rate in India.
Globally the increase in terrorism has compelled all people and companies to be security conscious. More and latest security devices are installed even in public places in Europe to protect people and prevent loss or damage to properties. As such the security spending world-wide has been on the rise and nobody wants to take a chance.
Q2) What is your take on the recent Union Budget 2017-18 ?
Well, the Union Budget 2017-18 is a bold step in the right direction. It is positive, prudent, people -friendly and growth oriented.
The Budget proposals bode well for all across the board and particularly our security industry. Real Estate, Infrastructure and Rural India have received a big boost in the budget thereby opening up plenty of opportunities to the security industry. Allocations for Agriculture, Banking, Energy, Housing and Railways have also been increased. The reduction in income tax, corporate tax and customs and excise duties have given a booster shot to many individuals and industries including security. All security players in India have a nation building role in this budget. We are sure that Hikvision will have a larger contribution in the days to come in keeping India safe and secure.
Q3) How Significant is the Indian market to your business ?
India presents a huge market of over 1.25 billion people of which more than 350 million are middle class (more than the population of the US). Each state in India has market potential like individual countries in Europe.
India is a growing economy and many regions in India are still untapped. It provides enormous opportunities for every industry including security industry.
The IMF, The World Bank and other intelligence think tanks have recently reported that India will be the fastest growing economy for over the next 3-5 years growing at more than 7 percent.
Furthermore, India is on the threshold of exciting business friendly reforms and is poised to become the third-largest economy of the world by 2030. In the words of our Hon'ble Prime Minister, India offers the 3 'Ds' for business to thrive - democracy, demography and demand. Add to that a tech-savvy and educated population, skilled labor, robust legal and IPR regime, and a strong commitment to liberalization - India is a major destination that one cannot overlook. Hence it is strategically and significantly important to our business to be in India.
Q4) What are the latest developments in Hikvision with specific reference to India market ?
Recently we had launched the world famous Pyronix Intrusion Alarm System in India to protect homes, offices, banks, commercial establishments, retail outlets, educational institutions and military installations.
We had also launched the New PanoVu Series Panoramic Cameras. The cameras provide 180- and 360-degree, distortion-free, ultra-high-definition video, seamlessly integrating video from multiple sensors in one unit.
For the fifth year in a row, Hikvision has reinforced its premiership position as the world's largest supplier of CCTV & Video Surveillance Equipment.
Hikvision recently has also received some prestigious awards and honors for its outstanding contributions to safety and security of mankind.
Q5) How do you view the growing competition in this business ?
Well, we at Hikvision always welcome competition for it brings out the best in us and for that matter from every player. In any growing industry competition is inevitable and we are accustomed to tough competition since our inception not only in the Indian market but also in the global market. Those who invest in R & D, innovation, quality and customer care will progress and prosper. Fortunately, Hikvision is customer-focused. It invests significantly in R&D, innovation and quality. Hence we are confident of weathering any competition because we are strong in those areas.
Q6) How do you see your brand growing over the period of next five years in the security market ?
Hikvision is already a major global player in the surveillance industry. It is a well-known brand in all the five continents. The brand is set to significantly increase its market share in the next five years by reaching out to new geographies and territories. We hope to lead in most of the categories of security solutions. We will strive hard to see our brand as a symbol of safety and security worldwide and become the customers' most preferred security solutions provider.
Q7) What are the future plans of Hikvision ?
Our future plans include launching many new and innovative security products, solutions and latest technologies. We will also expand our footprints to many new regions in India and abroad. Also, we will work toward enlarging our customer base significantly. As we consolidate our leadership position in the existing markets, our future plans will be entering into new markets, new segments, new products, new technologies and new (acquisition of) customers. So, you can witness exciting things from Hikvision in the coming years.
Q8) What's your style of management ?
People a free hand to operate. I delegate often and intervene only if the situation warrants. My employees enjoy complete freedom which enable them to come out with innovative and brilliant ideas. I believe that if you give a congenial working environment to your people then they will produce the best results. My style is do it or delegate it but never delay it. I am very time and result conscious.
Q9) What are your mantras for success ?
Always be alert, committed, focused and determined. Success will follow.
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