JOIN USBy Saket Modi
The Union Budget 2020 presented by Honorable Finance Minister Nirmala Sitharaman stressed on economic empowerment, wealth and job creation within the country through three key themes of Aspirational India, Economic Development and a Caring Economy and is focused on further amplifying India’s aim of reaching a 5 trillion dollar economy by 2024-25. The Honorable Finance Minister talked about how the proliferation of new technologies such as Artificial Intelligence, Machine Learning, Analytics and Robotics is helping India drive technology leadership globally and the proposal to allocate Rs. 8000 crore for the National Mission on Quantum Computing and Technology will further amplify this.
The proposal of a national cyber forensic university is also a welcome step and will significantly boost cybersecurity skills within the country and help towards developing a more mature cybersecurity ecosystem in India.
Furthermore, the Government of India has recognized entrepreneurship as the strength of India and has announced a slew of measures to improve the startup ecosystem. Steps such as deferment of tax payment by employees on ESOPs, plans to setup investment cells for early stage startups will help drive India’s leadership in innovation and boost the overall startup mindset and ecosystem within the country.
Overall, as India continues to develop on its digital and technology leadership, cybersecurity will continue to be ever so critical, and businesses will need to adopt Cyber Risk Quantification (CRQ) platforms to be able to better measure and mitigate cyber-risks in real-time.
(The author is Co-founder & CEO, Lucideus)