In an effort to make India a global hub for cyber security-related requirements, the IT industry’s representative body Nasscom and the Data Security Council of India (DSCI) launched a detailed roadmap for the next 10 years. Titled “Growing Cyber Security Industry, Roadmap for India,” the report identifies Managed Security Service (MSS), Security and Vulnerability Management (SVM) and network security emerging as attractive opportunities globally. Also Read - 11th India Game Developers Conference scheduled for November 22
MSS emerges the most attractive opportunity, with the highest growth of (more than 12 percent) and largest market size ($18 billion). “For India to become a global cyber security hub, a list of 16 initiatives has been formulated by Nasscom-DSCI. Effective programme roll-out and strategic vision realisation will require disciplined management of the 16 key initiatives suggested by the report,” said R Chandrashekhar, President, Nasscom, during an event. Also Read - Nasscom raises concerns over latest proposal on H1-B visas by US government
According to Nasscom, the Indian IT industry is set to reach a size of $350-$400 billion by 2025. “The country can build a cyber security product and services industry of $35 billion by 2025 and generate a skilled workforce of one million in the security sector,” it added. With cyber security products constituting a $38 billion market in 2015, network security will emerge as the most attractive product segment by size, while security and vulnerability management has the highest growth prospects across various geographic regions. ALSO READ:
“India being a primary hub for growing smartphone penetration and digitization, it is imperative to build a robust cyber security products and services industry in the country,” Nasscom stated. “Cyber Security Clusters, a recommendation of our report, can be a key enabler for growing the ecosystem rapidly,” added Rama Vedashree, CEO, DSCI. Last year, Nasscom-DSCI established the Cyber Security Task Force (CSTF) initiative that aims to create one million cyber security jobs and 1,000 cyber security startups by 2025.