In a bid to improve cyber security in India, the government is proposing to offer monetary benefits to those companies that adopt best practices and processes. The plan, as outlined in the National Cyber Security Policy 2013, is to reduce economic losses due to cyber crime.
Minister of communications and IT Kapil Sibal said the policy serves as a means to provide confidence and reasonable assurance to all stakeholders in the country and abroad.
“We are yet to define what exactly the fiscal benefits would be, but government has put a thought to a few possibilities,” said Gulshan Rai, director of CERT-IN, the nodal agency that coordinates cyber security emergency response and crisis management in the country. “These could be tax concessions for R&D and setting up manufacturing units in the area of cyber security. There could also be excise benefits on the items which are being manufactured here which would further encourage the indigenous product manufacturing.”