Budget 2024: Some of the experts said they look forward to a comprehensive allocation of resources that empowers the cybersecurity sector to proactively combat cyber threats, leveraging cutting-edge technologies.
New Delhi: As Finance Minister Nirmala Sitharaman is all set to present Budget 2024 on Thursday, the cyber security sector expects big from the Central government. The industry experts expect increased funding for research and development of advanced threat detection technologies, support for cybersecurity education and training programs, and investments in enhancing the overall resilience of critical infrastructure against cyber threats.
Speaking to India.com, Milan Sharma, Founder & MD, 35North Ventures, on Cyber Security Sector, said the cyber security in defence is an area to watch for in coming years. He said the defence is in dire need of cyber solutions for all. “Of its armed forces, these solutions are required at an alarming pace. This has created an opportunity for start-ups in cyber defence areas. The new warfare is not dependent on firepower but rather is dependent on cyber powerhouse. Nation needs to strengthen its technological infrastructure. AI and ML were the buzzwords of the year 2020-2021. Similarly, cyber security for national defence will be the next buzzword for the year 2024-25,” he said.
Vishal Gupta, CEO Seclore, said the pre-budget expectations in cybersecurity may include increased funding for research and development of advanced threat detection technologies, support for cybersecurity education and training programs, and investments in enhancing the overall resilience of critical infrastructure against cyber threats.
Shibu Paul, Vice President, Array Networks, said, “We look forward to a comprehensive allocation of resources that empowers the cybersecurity sector to proactively combat cyber threats, leveraging cutting-edge technologies, threat intelligence, and fostering a highly skilled workforce.”
He advocated for a budget that promotes public-private partnerships, recognizing that collaboration is key to addressing the multifaceted challenges of cybersecurity.
Siddharth Ugrankar, CEO & Co-Founder Qila.io, said the cyber security for India is of paramount importance. “For years India has suffered repeated attacks from bad actors such as China, Pakistan and Russia. Government agencies has suffered the most as antiquated systems and processes have been targeted. This has been a large contributor in stunting India’s growth although the mindset has started to change country over,” he said.
Anirudh Asher, Founder and Managing Partner at Atomic Asher- An AI Company, said, “With recent public statements by PM on deepfakes, upcoming advent fintech with GIFT city and also with UPI potentially being adopted by other nations, it’s likely we’ll see added focus on funding development of AI and deep technologies to allow growth and especially protection to national digital assets. It is imperative we as a nation accept that cybersecurity fortification is as essential as growth.”