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View from India: India, promising market for cyber security

The cyber security industry is estimated to be worth $35billion by 2025. Growth drivers include IT services, security, startups, global security R&D and user organizations. India is a promising market for this. Global firms are setting up their IT and cyber security subsidiaries here, while indigenous security product companies are developing niche solutions and leading security firms are setting up their R&D units in the country.

A strong talent pool, innovative ideas and a robust startup ecosystem are essential for India to evolve into a cognitive security hub. With this in mind, Rama Vedashree, CEO of the Data Security Council of India (DSCI), speaking at the Best Practices Meet (BPM) 2017, a Nasscom initiative in Bangalore, said, “The National Technology Repository, a new initiative of DSCI will look at 25 technology domains to create a new league of cognitive securities and the Repository is in the process of reaching out to academia and IT professionals”. 

DSCI is a premier industry body on cyber security and data protection in India set up by Nasscom to make cyberspace secure and safe through various initiatives. DSCI and Nasscom have already chalked out an agenda to make people industry ready.

“The Digital Payments Security Programme is essential as it promotes people towards industry readiness. This year, DSCI, Ministry of Electronics and Information Technology (Meity) and Google India have announced a slew of digital programmes to encourage the Digital Payments Security Alliance,” Vedashree added. 

Clearly, security is the crux of this programme. “Until a few years ago, it was felt that cyber security was more to do with the defence sector. However, large corporations now give paramount importance to cyber security and they either invest several crores [large amounts of money] into it or create in-house software for it,” explained GK Pillai, chairman, DSCI. Companies of all sizes have realised the importance of security and have begun to invest in it. “Not all offices have gone fully paperless. In many departments, data is still contained in files which need to be digitally stored in a secure manner. All this points to a shift from the informal to the formal,” added Pillai.

Besides security, another interesting session was to do with the Internet of Things (IoT). This seemed to be timed right because on Friday the Government of India announced a list of 30 cities that will be developed as Smart Cities under the Smart City Mission. Once that happens, IoT along with tech infrastructure and optical fiber networks will proliferate into every segment of Smart Cities.

“The IoT is a confluence of technologies which will change every aspect of the industry considering it offers cost reduction and connectivity among other benefits. In order to leverage the benefits of IoT, many consortiums and companies have drafted technology and regulatory protocols to promote standardization and uniformity in processes,” said Sanjeev Malhotra, CEO, IOT Centre of Excellence at NASSCOM.

Mass adoption of IoT will happen in industries like auto and manufacturing, with maximum revenue coming from the transport and logistics sector. “In the manufacturing units, IoT helps in asset tracking and hence outcome-based results. It also facilitates a pay-per-use system,” Malhotra explained. In the case of smart manufacturing, failure analysis for predictive maintenance and automation of shop floor material are among the functions that can happen through IoT. 

In the auto industry, IoT can be tapped to build applications and create customised product offerings particularly with infotainment. When data comes in, it enables the auto company to perform analytics and even predictions. Live tracking of vehicle location, its performance and monitoring the vehicle as it travels are all possibilities with IoT technology embedded into future vehicles.

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