Cisco Cyber security Investments to accelerate India’s Digitization

Cisco India has announced a series of new investments to enable the building of a trusted, transparent and secure digital infrastructure environment, a critical enabler for India’s digital transformation.

Organizations that are seizing the digital opportunity need security everywhere – from the network to the endpoint and from the cloud to every corner of their operations – to limit the risk of sensitive data compromise. India’s transition from cash to digital financial services requires a digital network that enables business innovation, generates insights and creates customer experiences. As financial services firms in India move towards digitization and bring more users, devices and applications online, companies are challenged to protect an expanding attack surface.

Recognising the integral role of cybersecurity in the digital economy, Cisco and Indian Computer Emergency Response Team (CERT-In) signed a Memorandum of Understanding (MoU) for strategic cybersecurity cooperation, which aims to enhance digital security readiness and awareness of cybersecurity.

The MoU was signed in the presence of the Honourable Minister of Electronics and Information Technology Shri Ravi Shankar Prasad, Government of India, and Dinesh Malkani, President, Sales, Cisco India and SAARC. Under this MoU, Cisco and CERT-In will establish a threat intelligence sharing program wherein personnel from Cisco and CERT-In will work cooperatively together to address cybersecurity threats and incidents, identify and shape emerging security market trends, share leading practices, and learn new approaches to enhance cybersecurity.

The demand for cybersecurity experts has grown three times faster than any other IT job role and training a cybersecurity workforce is a priority for many organizations. As per a Cisco report, there are more than 1 million unfulfilled security jobs worldwide currently. To help increase the pool of talent with critical cybersecurity proficiency, Cisco announced a $10 million Global Cybersecurity Scholarship globally in June 2016. The Cisco Network Academy program has enhanced its security portfolio with a new Cybersecurity Essentials course. In India, Cisco Network Academy program has trained 122,000 students and is committed to training an additional 250,000 students by 2020.

According to a Cisco Security Report, 54 percent of cyber-attacks are not even detected for months or even years. Even if they are discovered, it may take several weeks before full containment and remediation are achieved. During that time, sensitive information and intellectual property may be compromised. Most organizations however do not have the methodology or budgets needed to build, staff, and maintain sophisticated threat-monitoring and defence capabilities.

Ravi Shankar Prasad, Honourable Minister of Electronics and Information Technology, Government of India said, “In light of rapidly evolving cyber tactics and shared risks in cyberspace, the need to work side-by-side with industry partners on pressing cyber-challenges becomes increasingly important.  We are happy to have Cisco collaborate with us to enhance the security of India’s digital infrastructure and speed up digitalization of India”

Dinesh Malkani, President, Cisco India and SAARC said, “As India digitizes, security will become fundamental to seizing the unprecedented opportunities for businesses, cities and citizens. Cisco is committed to helping achieve India’s digital transformation by enabling a digital ready infrastructure and security everywhere. Today’s cybersecurity announcements reaffirm Cisco’s long-term commitment to India, a strategic center of country digitization and innovation. At Cisco we securely connect everything to make anything possible.”