"We have an estimated USD 1.9 billion (about Rs 13,500 crore) in cybersecurity service business, and USD 450 million (about Rs 3,200 crore) of cybersecurity products business from India. There is also presence of multinational and Indian entities which engage in R&D in cybersecurity...all of it currently amounts to USD 5 billion (about Rs 35,500 crore) worth cybersecurity ecosystem in India," IT Secretary Ajay Prakash Sawhney said.
This, he said, needs to grow significantly with Indian cybersecurity products.
"It is especially important that we move aggressively in the area of cybersecurity," Sawhney said citing a connected world with rising number of computing devices.
"We are more dependent on computing equipments, communications and storage systems and with that the vulnerabilities are significant," he added, emphasising the need for cybersecurity and cyber hygiene products and tools.
Sawhney was speaking at the launch ceremony of 'Cyber Security Grand Challenge' that seeks to provide a platform to innovators and start-ups to align their efforts in development of products and solutions for critical cybersecurity problems. MBI RVK