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Cybersecurity Driven Union Budget Expectations

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Getting some Union Budget Expectations from Cybersecurity experts in terms of startup and cybersecurity. 

Mr. Shikhil Sharma, CEO, and founder, Astra Security, 

The upcoming budget will be the biggest testimony for India’s posture in this new post COVID19 world. A sharp focus on employment & entrepreneurship lead growth is anticipated. Over the last decade, Indian IT startups have preferred to have their headquarters in the US or Singapore to have a friendly tax & compliance setup. If this budget is able to address this by offering more relaxed & flexible compliance to these startups, it’ll not only attract more investments but keep made in India startups, in India. New policies should facilitate the smooth landing of offline businesses in a digital world by relaxing compliance requirements which in turn will enable payment gateways to offer these businesses a smoother transition. This will empower more Indian SMEs to take their products and services across the globe. As India prepares to become more digitally savvy in 2021, we need to shore up our defenses against cyber-attacks by enhancing data protection and have a much-strengthened policy in place for all sectors which is enriched via consultations from startups and companies working in this space, public consultations and aligned with best global practices.”

Sonit Jain, CEO of GajShield Infotech said:

“With a strong push for Make in India, it was never been more exciting ever for companies making products in India for the World. This year, we would like the government to include tax exemption for companies making products in India and also for employees working in such companies. With data security being as important as revenue growth for companies, a policy framework to enhance the digital culture of India, by incentivising companies to build strong data security infrastructure will fuel further growth of India. Covid has shown how Work From Home is no longer a buzz word, but a necessity, we look forward that this budget accelerates spending in rural digital infrastructure, thus making work from anywhere a true possibility. This will not only ensure the development of our rural economy but also help in decongesting cities. All of this would require a workforce well equipped with the knowledge of latest technology, spending on education to boost research in universities will help build a nation with knowledgeable and intelligent future generation.”

Mr. Dipesh Kaura, General Manager, Kaspersky (South Asia) expressed his expectations by adding:
“The financial budget for 2021 will be very crucial for various sectors including Tech/ IT, especially after the year 2020- where economic growth of our country almost came to a standstill, due to the pandemic and its after-effects. However, it was the use of digital technology that helped companies run their businesses remotely and steadily throughout the year. It is a fact that the emerging trend of digital transformation created various opportunities for us, however, it also led us to a juncture where newer opportunities met newer threats. The use of digital technology has not only transformed the way we operate today, but has also opened gates for nefarious cybercriminals that are waiting to exploit our vulnerabilities. From growing number of cyberattacks on enterprises, critical infrastructures, consumers, to increased cyber warfare, we have witnessed a drastic change in India’s threat landscape in the past year. To keep the digital transformation ongoing, it is imperative to embed cybersecurity at the most initial stage of digitization. While Digital India is our future, the right investment made in cybersecurity today can help us secure this future, and hence the funds should be allocated accordingly. Increase in cybersecurity awareness and maturity amongst the growing internet users in India is equally important in order to protect them from the potential threats and encourage them to explore opportunities digitally.  It is true that the Finance Minister has to look at various aspects while announcing the budget, but with right investments made in the technology sector, the country is sure to soar to new heights.”

We have been covering this from the past few weeks and will continue to do this coverage for another few weeks. However, once the budget is announced we will explain the budget and then cover the industry feedback on post-budget. so, we request all the industry stakeholders to connect with us on post-budget feedback as well.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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