"Ministry of Labour is seriously considering to evolve a safety and fire standard code to be implemented at all industry and establishments making India a safer place to live in," he said.
Dattatreya was speaking at an international seminar of International Institute of Security and Safety Management (IISSM).
Losses from security lapses is less in comparison to losses from safety lapses and fire hazards, he said.
However, there is no standard code for workplace safety or fire prevention in public places like cinema halls, shopping malls, bus stands, railway stations, hotel and hospitals, he added.
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He said government seeks support of IISSM in evolving such a standard code and its implementation.
The minister said security is a necessity of life and without proper security "we cannot even imagine peaceful and growth oriented society".
Further, he said the government is aware that private security industry has come to stay for the benefit of industries, service sector, infrastructure and even for government establishments.