With India poised to become a USD 5 trillion economy in the next five years, we welcome the Government’s proposal of ensuring the growth of SME’s & rural India through initiatives such as promotion of digital villages. Additionally, through steps such as the establishment of a national centre on artificial intelligence, the Government plans to skill India’s youth, through the adoption of new technologies such as AI, so that they can reach their full potential. As the technology landscape evolves rapidly, along with the infinite opportunities that it provides us, there are also a myriad of new challenges especially in terms of IT security and data protection. Even though Indian businesses (67%) were the highest hit by ransomware with an average impact cost of approximately USD 1.17mn and 2018 being the year of serious data breaches, there was very limited focus on IT security in the budget. That said, while we welcome the Governments proposed steps in strengthening the MSME & SME sectors that provide employment to millions of people, there still remains a pressing need for further investment in technology for data protection and IT Security, both from the Government and organization’s standpoint.
@Technuter.com News Service