Cyber security spends in India are rising rapidly because of the massive digitisation movement — especially in the payments space — and the ease of internet’s use on the mobile. The ransomware attacks in the past year have added to the urgency of these spends. Leading global security solutions companies say their revenue growth in India has accelerated, in some cases sharply, and they say security today is a major discussion point at the topmost levels in customer companies.
“Earlier, it was seen as only the responsibility of the IT department. Now, boards are asking about security, reviewing it, because it can disrupt brands, reputations,” says Bhaskar Bakthavatsalu, managing director for India and SAARC at Check Point Software.
Tarun Kaura, director of product management for Asia-Pacific and Japan at Symantec, agrees: “Boardroom- and CEO-level discussions are happening on security. There’s a lot of awareness because common people are using the internet a lot, given that it is very easy to transact on the mobile, unlike in the PC world where some learning was required.”