“From digitizing government services to creating centralized online databases for citizen and government services and more — the Union Budget 2023-24 has made strategic allocations in turning the wheels of innovation in India. With the 76% increase in UPI transactions in India since 2019, the government has given a major push towards simplifying KYC norms and its proposal to adopt a risk-based approach to KYC is a welcome move for businesses in the country.
It is at this precipice that organizations, both public and private, must focus on building cyber resilience by adopting a proactive approach to cybersecurity. This is because cybercrime is the biggest concern for organizations in the country.
With such a massive impetus for digitally-driven growth in India, organizations must focus on gaining visibility into the entire attack surface. This includes identifying vulnerabilities, misconfigurations, internet-facing assets and attack pathways. The push for R&D leveraging 5G technologies for IoT, mechatronics, AI, Industry 4.0, and drones would also require these organizations to focus on embedding security at the start of the software development lifecycle. Adopting a proactive approach to cybersecurity with exposure management that gives complete visibility into the attack surface will put organizations in the best position to reduce their cyber risk.”
