CIOInsider India Magazine

Today, digital service delivery mechanisms are offered by both the private sector and government organizations, resulting in a collaboration of efforts. Due to the speed of digitalization, interconnected networks and systems become critically dependent on one another. Any successful cyberattack on a vital resource like a power system will have a huge impact, paralyzing transportation, communications, and even putting people's safety in peril.

Experts cited a number of causes for this, including a rise in web traffic, a lack of awareness, a lack of technological expertise among police and the general public, and challenges in conducting investigations into cybercrime cases. These and other considerations have prompted cyber criminals to devise fresh and creative methods for defrauding individuals. There are existing laws and regulations to help safeguard oneself or entities from cyberattacks and let’s look at how these laws have been helping counter these attacks.

Current Laws and Provisions Dealing with Cyber Crime
India has implemented a number of statutory and administrative measures to strengthen its cyber defense and successfully combat cybercrime.

Since the inception of cyber laws in India, the IT Act 2000, which was approved and updated in 2008 to cover a wide range of offenses, has been in force. In this context, the term cyber law refers to all laws and regulations pertaining to the internet. Cyber laws apply to everything that has to do with, is related to, or arises from legal issues or any online behavior by individuals. Cyber law addresses concerns with the distributive, transactional, and communicative functions of network information technology and devices. It covers every law, rule, and provision of the Constitution that pertains to networks and computers. However, there are still many areas that are yet to be addressed and these are the same areas that allow cybercriminals to launch their attacks on the vulnerable. Today, the Parliamentary Standing Committee on Finance has called upon executives from tech companies and others to discuss ways to upgrade the country’s security system.

Purpose of the Meeting
To discuss cyber security and cyberthreats, the Parliamentary Standing Committee on Finance has organized a meeting. Senior bank executives have been called to the meeting to make thorough presentations on steps to counter cyber threats and strengthen national cyber security.

The committee is said to meet at the Parliament House Annexe Extension to hear evidence on the matter from representatives of the groups that were called. Senior bank executives have been asked to give thorough presentations on the measures taken to improve cybersecurity and counter cyber attacks.

Senior executives from tech giants Google and Apple, e-commerce platform Flipkart, digital payment service Paytm, banks including Yes Bank, Punjab National Bank, and Bank of India, as well as the Indian Computer Emergency Response Team (CERT), have been summoned to appear before the Parliamentary Standing Committee on Finance to discuss the rise in cyber and white collar crimes. The discussion of the meeting is said to center on cybersecurity and examine ways to protect the nation from online dangers.
Beginning on July 20 and lasting through August 20, the monsoon session of Parliament is scheduled to take place. Legislators have the chance to address crucial topics during this session, such as cybersecurity and measures to bolster the nation's defense against cyberthreats.

Lack of Awareness and Skilled Professionals
Many people and organizations in the nation still don't entirely understand the risks and consequences of cyberattacks, leaving them open to harm. This is especially true for startups and smaller companies, who might not have the funds to invest in serious cybersecurity measures.

Lack of qualified people is another issue India is experiencing when it comes to cybersecurity. Although there is a rising need for cybersecurity specialists, there are not enough qualified individuals to fill this need. Although it is not a problem specific to India, the lack of skilled professionals has a big influence on the nation's capacity to defend itself against cyber threats.

Opportunities
Despite these obstacles, India's cybersecurity sector offers a lot of room for expansion and improvement. The growth of cybersecurity companies is one of the most promising areas. India has a thriving startup scene, and there are an increasing number of companies offering cybersecurity solutions to people and companies. These companies have the ability to not only meet the nation's cybersecurity needs but also take the lead on a global scale.

The rise of cybersecurity skills is another area of opportunity. The Indian government has established a number of initiatives to promote the growth of cybersecurity skills among young people in recognition of the significance of developing a trained workforce. One national-level contest that tries to find and develop talent in the field of cybersecurity is the Cyber Security Grand Challenge.

Furthermore, there is a chance for greater collaboration between the public and commercial sectors. Although the government has made a lot of progress in addressing cybersecurity issues, it cannot do so by itself. Effective cybersecurity solutions must be developed and put into practice by the business sector. Collaboration between the two industries could result in the creation of cybersecurity solutions that are more thorough and effective.

Need for Effective Measures
Even while the nation has made great strides recently, there is still much to be done to address the threats and consequences of cyberattacks. A few actions that can be made to enhance cybersecurity in India include addressing the lack of knowledge and education, developing a trained workforce, and enhancing government-private sector cooperation.

Overall, India offers several prospects for growth and development in the realm of cybersecurity. It is crucial that the nation makes the infrastructure and resource investments required to defend itself against cyber threats as it continues to advance in the digital sphere. By doing this, India may advance as a cybersecurity leader on a global scale in addition to protecting its own digital ecosystem.

India is increasingly at risk from cyberattacks, making it more important than ever to hire qualified cyber security experts. People may handle the issues facing the industry and ensure a promising career in the field of cyber security with the appropriate education and experience.