Currently, the global IT industry is staring at a massive dearth of cybersecurity professionals.
The long-awaited moment is now upon us as the Budget 2020 has finally been announced. This year, a majority of sectors were looking towards the Hon’ble Finance Minister with scores of expectations, especially in the light of weakening demand. On the other hand, the Hon’ble Minister had to operate with a tight bandwidth due to the shortfall in tax collection this fiscal. Still, she seems to have navigated her way quite brilliantly. But how is the Budget 2020 for the burgeoning segment of cybersecurity in India? Let’s quickly analyze.
To begin with, let us understand the current global cybersecurity landscape. Currently, the global IT industry is staring at a massive dearth of cybersecurity professionals. Industry estimates indicate that there is a shortage of around 4 million professionals across the globe. Well, this shortage also has certain costs linked to it. According to an Accenture report, the global economy can lose up to $5.2 trillion over the next five years.
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Perhaps, this is the core issue that Budget 2020 has tried to resolve. The government has announced the launch of a specialized cyber forensics university. This is the need of an hour as there is a shortage of over 1 million cybersecurity professionals in the domain in the country today as per DSCI.
Source: Financial Express