Indian government is finalising cyber security standards to counter rising cyber attacks and breach of financial and personal data from mobile-phone companies.
“The products of all mobile manufacturing units must be security-compliant. There will be no compromise on this issue,” Union Minister for Information Technology and Electronics Ravi Shankar Prasad is quoted as saying at a summit on cyber and network security by various local media Thursday.
This month, the Ministry for Electronics and Information Technology had instructed 21 smartphone manufacturers including Chinese firms to share the security procedures they have undertaken to ensure data security of mobile phones.
He also mentioned that the government requires “low-cost cyber technology and low-cost well qualified cyber auditors pointing out that cyber-enabled security testing will turn to be a big initiative in India.
“We are also insisting that all banks have cyber security auditors. The Ministry was of the view that Noida which has become a hub for mobile phone production with 32 manufacturing units has the potential for a software park in future.
The country’s digital economy was currently worth $500 million and had the potential to scale the $1 trillion figure in 4-5 years, he added.
“We have about 5,000 startups in India today and many of them are becoming unicorn companies, that is, Rs 1,000-crore companies like Flipkart and others.” he added.