Data - a new fuel for Digital economy

Ajay Kaushik Founder & CEO Panacea Infosec

"After Digital India Initiative Digital Innovations are on fast track, and Data became a new fuel for digital economy. Government has to ensure that data is not an asset of an organisation but it is a responsibility and eventually liability. We need a robust cyber security policy. Government should accelerate enactment of the Data Protection Act and set up a strong and effective Data Protection Authority. Few key areas where we are expecting reform is ensuring predictability, consistency and rationalization of levies and taxes to promote innovation and investments in the sector to achieve Indian Government's Digital India vision.

Post pandemic circumstances empowering start-ups can help to overcome some economic headwinds and create a culture of entrepreneurship to facilitate sustainable economic growth and generating large-scale employment opportunities. As digitalisation of economy is taking pace, the focus of policy makers should be on building superior trust in technology. Allocation of 10% to 20% of the technology budget for cybersecurity initiatives should be a priority of the GOI. In this budget government must add simulation-based cybersecurity training solutions in the Skill India campaign.

We are expecting from govt to create a strong compliance culture for Payment Data security as well as PII security. Although we have practices such as PCI DSS, ISO 27K and few others prescribed by CERT-In and NCIIPC in India. we have to analyse these practices with the point of view of its practical implementation and orientation along with its interoperability with the international frameworks.

Government should give policy support for cybersecurity services with proactive application of policy mandates. All guidelines for data protection and Risk assessments should be enforced very strictly just like the government enforces income tax and GST filings. It will make the nation safer from a cybersecurity perspective."