Govt. to invest $200 mn on cyber security infrastructure

NEW DELHI, INDIA: In order to strengthen cyber security infrastructure, the government will invest about $200 million in the next four years.

"We have 1.2 billion people and will be largest in terms of population country in the world in years to come. This (cyber crime) affect us perhaps much more than any other country in the world," said Telecom and IT Minister Kapil Sibal at the third worldwide Cyber security summit.

At present, protecting the infrastructure available with the nuclear, aviation, banking sector is the top priority for India. "I presume multi-dimensional and multi-sectoral infrastructure will be established in different area. In the Department of Electronics and IT (DEITy) itself we must have investment of USD 200 million in next four years to create necessary infrastructure. We are working on that," said DEITy Secretary J Satyanarayana.

Sibal said that, threats to Cyberspace have increased dramatically in the past years affecting 431 million adult globally or 14 adults victims every second or one million cybercrime victims every day. The minister called for urgent need to work on agreements on international standards.

He also explained that, no nation can fight cybercrime in isolation and there is a need to jointly work on devising standardised and coordinated response strategies along with a cyber security strategy in place.