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Last updated: 24 Jun, 2017  

FICCI Logo 'Govt, Industry need to address issues of cyber-attacks collectively'

India Risk Survey 2017
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Saurabh Gupta | 24 Jun, 2017
Indian Industry and the Government need to have a collaborative outlook to address the risk of information and cyber insecurity, said Alok Joshi, Chairman, NTRO during a FICCI seminar on New Age Risks 2017 on Friday in New Delhi.

He said, "It is becoming difficult for businesses as well as Governments to deal with non-state actors located outside, who are involved in cyber-attacks. Once any business becomes part of internet then it becomes a part of the global network and cannot operate in isolation. In this regard, Industry and Government need to have a collaborative outlook to address the emerging threat of information and cyber insecurity."

He also mentioned that National Critical Information Infrastructure Protection Centre (NCIIPC) successfully safeguarded 300 establishments in India from the recent worldwide cyberattack by the WannaCry ransomware.

In his Keynote Address, Gopal Krishna Agarwal, National Spokesperson for Economic Issues, Bharatiya Janta Party (BJP), stated that 'Stalled projects, a key reason for a slide in gross fixed capital formation in the past few years. This is the biggest challenge which the government is facing.

The current government has taken adequate measures to revive the investment cycle. He mentioned that with the intervention of the PMO driven initiative, Pragati (Pro-Active Governance and Timely Implementation), many stalled projects have seen the light of the day.

On the occasion, Gopal Krishna Agarwal and Alok Joshi along with other dignitaries released the FICCI & Pinkerton report on 'India Risk Survey 2017'.

The report highlighted the severity of risks and their impact on the industry, across economic sectors and geographical regions of the country.

The results of the survey are based on a collation of a set of 12 risks that have been identified after a series of brain-storming sessions.

The India Risk Survey 2017 thus aims to focus on the major risks that have the potential to adversely impact businesses in the country.

The India Risk Survey 2017 also provides inputs that could help cross-sector business leadership in devising risk-mitigation strategies, in order to create a secure business environment. However, the applicability of each risk to individual organisations may vary.

Earlier, in his Welcome Address, Dr. A. Didar Singh, Secretary General, FICCI highlighted that addressing macro-economic risks lies beyond the capacity of individual businesses.

Businesses need to strengthen their resilience to ensure continued operation and survival in the face of risks. At the same time, the clear role for collaboration among public and private sector stakeholders becomes evident, for example, to develop better cybercrime prevention methods, to establish cybersecurity norms for both governments and industry, and to align international approaches to enforcement and establish industry norms.

Manjari Jaruhar, Chair, FICCI Committee on Private Security Industry and Former Special DG, CISF, Govt. of India said, "Incidents of threats and violations to the safety of women at workplace are often taking place. As we all know that workplace has become much diverse these days, with more and more women joining the workforce. Thus, it has become utmost important to ensure physical, intellectual, emotional, economic and spiritual well-being of women employees."

She also mentioned that the risk landscape is evolving and becoming far more complex these days. We should together build a security model where close partnerships between the government and private players could ensure and develop a risk free business environment in the country.

Cyber-security features high on the agenda of leaders across all sectors, with business, governments and individuals rapidly taking advantage of faster, cheaper digital technologies to deliver an unprecedented array of social and economic benefits. Yet, with the benefits of digitizing and connecting comes a range of new challenges. said, Rajesh Mathur, Chair – FICCI Committee on Geospatial Technologies & Advisor, ESRI India.

"From a reactive society and industry we need to become a proactive society.  Efforts to improve the response preparedness to natural hazards such as earthquakes & flood needs to be looked at by both Corporate as well as Policy makers and thus Natural Hazards is one of the top risk gainers in IRS 2017," says Rohit Karnatak, Managing Director India, APAC & EMEA - Global Screening Pinkerton.
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