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"By 2025 we would like to have $35-40 billion worth of cyber security business, which is like 10 per cent of the IT industry size of that time. And we also need to look at (creating) 1 million cyber security professionals. They are the two big numbers we are looking at," Saravade told Business Standard on Tuesday.
According to him, the task force has been collecting inputs on what kind of projects or policy changes or initiatives will help in creating a global cyber security industry in India to cater to the global market.
In the last week of May, the National association of Software and Services Companies (Nasscom) and the DSCI had announced the launch of the task force with an objective to build India as a global hub for providing cyber security solutions, R&D and skilled work force of cyber security professionals.
Nandkumar, who took over as the chief executive officer of the Nasscom's data security body on July 1, 2015, said the ongoing exercise has been directed at how to create those numbers, though pretty aspirational, on the ground. The task force has been assisted by four working groups, which were set up for technology, industry, skills and policy development areas respectively.
These working groups are focusing on issues such as how to increase the demand for security products in the country, where to source the skilled people, how the existing IT professionals can be encouraged taking up security certifications and what kind of research can be carried out which will then be converted into products, Saravade explained.
They were also focusing on things like the kind of ecosystem cyber security companies would require, the seed funding and sales support that are necessary for their growth among other things, according to him. The task force wants a whole new bunch of Indian companies to grow in the exclusive cyber security product and services area to capture the global opportunity.
"All of that is getting collated now. We will go back to government and discuss these recommendations in another months time and then suggest to the government what kind of changes they may carry out to ensure the results," he said.
Cyber crime turned into a retail industry
Saravade said the cyber crime was not just causing serious problems to businesses and governments, such as the recent cyber attack on Sony Entertainment company in the USA, it has also become a retail industry. He gave the example of how a ransom ware called Crypto Locker first encrypts the files stored in an individual's computer and then demands money for providing access to those files.
"It gets hold up the data and holds it to you for ransom. They even offer discounts on this 'service'. Since the amount is small like $40-$50, people are paying as well," he said. Simple things like having a back-up will help escape this kind of trap.
A cyber security expert and former IPS officer, Saravade worked as independent advisor on fraud and security to EY and ICICI Bank, South Asia head of security, investigation and vigilance at Citibank among other assignments before joining the Nasscom body.
