Tata Communications to hire 400 people to cyber security services

Tata Communications the provider of telecommunications solutions and services, will hire 400 people and invest $50 million in its cyber security services business in the next three years, as companies look to combat the rise in cyber crime and data theft in India.

Tata Communications puts software, appliances, hardware together to make a solution for enterprises to protect their information from cyber security risks.

“Lot of companies generate a lot more data. All of them are on social media, run marketing, digital campaigns. There is a lot more thrust for companies to be online. They have the same cyber security challenges that individuals have,” Srinivasan CR, Senior Vice President of Global Data Center Services & CDN business, Tata Communications.

It's managed security division currently accounts for less than 10 percent of revenue but is growing at more than 50 percent a year. The company expects revenue contribution from the division will be in the double digits by 2020.

“Indian market is fairly nascent because cyber security awareness is growing. It is beginning to be seen an important thing in India. Earlier it used to be after thought or was ignored. It is now being taken seriously with all the discussions happening around Aadhaar, privacy and right to data, ownership of data” said Srinivasan.

The Indian market is about $200 million comprising of hardware and software applications versus the global market of $130 billion, according to Srinivasan. Addressable market in India would be about $40-$50 million at present but is growing fast.
“Banking, financial and insurance companies are a big spender on security because banking data is the most critical data we ought to protect. Their budget allocation for security is very high. It is a big focus for us,” he added.

Tata Communications will invest in building capability in risk and compliance, cloud security, identity and access management, analytics to predict cyber-attacks and network and infrastructure security.

It will hire cyber security talent with expertise and experience in application, software development, analytics, big data and cyber security consultants. 80 percent of the 400 new hires will be based in India while the rest will help the company expand geographic footprint in the Middle East, Singapore, the United States and the United Kingdom. At present, the company has about a workforce of 100 cyber security experts in the division.

India was one of the many countries severely hit by global cyber-attacks like WannaCry and Petya ransomware recently. The cost of cyber-attacks in India currently stands in excess of $4billion. The losses are a result of leakage of sensitive information, operational disruption, impact on brand image and possible legal proceedings.

More than 50,300 cyber security incidents like phishing, website intrusions and defacements, virus and denial of service attacks were observed in India last year, according to Indian Computer Emergency Response Team.

More than 60 per cent of the software used by companies in India is unregulated which poses a threat of cyber attacks, according to business practices firm EY.

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