The Indian government is finalising cybersecurity standards following rising concerns about data breaches at the hands of telecommunications companies.
Once it is put into action, all products must comply with the new guidelines to protect users from cyberattacks when making purchases, such as concert or sporting tickets, from their mobile devices.
From 2016 to 2020, analysts from the Global Mobile Ticketing Market predict that the mobile ticketing market will grow at a compound annual growth rate (CAGR) of 20.09 per cent.
“The products of all mobile manufacturing units must be security-compliant. There will be no compromise on this issue,” Union Minister for information technology and electronics Ravi Shankar Prasad said at a summit in New Delhi on cyber and network security, organised by industry chamber Assocham.
The ministry of electronics and information technology this month requested advice on the procedures that 21 smartphone makers have taken to ensure the security of mobile phones.
The Minister said: “We need low-cost cyber technology and low-cost, well-qualified cyber auditors.”
He added that as India becomes increasingly on the radar for cyberattacks, the government has moved to deter these issues through advancing its security solutions.
“We are also insisting that all banks have cybersecurity auditors. We are unleashing a big challenge to have cybersecurity training, drills for officers, judges and policemen,” Prasad added.
In addition, Prasad said that India’s digital economy has the potential to scale to $1tn (£765bn/€830bn) in four to five years.
“We have about 5,000 start-ups in India today and many of them are becoming unicorn companies, like Flipkart and others. This digital ecosystem in India is going to rise and no one can stop this march,” he added.