Cisco Signed Memorandum of Understanding(MoU) With Ministry of Electronics and Information Technology

India: Cisco and Indian Computer Emergency Response Team(CERT-In) signed memorandum of understanding for cyber security solutions with Ministry of Electronics and Information Technology(MeitY). 

Under the MoU, Cisco & CERT-In will work in tandem to address the issue of cyber security threats and incidents along with bringing new ways to enhance cyber security for digital payments market which is mounted to grow manifold in coming years.

Cisco will establish Security Operation Centre(SOC) in Pune offering broad range of services which includes monitoring of threats and their solutions for enterprises. The company will also assist Security and Trust Office(STO) in Gurgaon to help government in shaping the national cyber security strategy.        

TechSci Research depicts that cyber security services would play a vital role in protecting personal and corporate information from data theft as breaching of information is highly susceptible to internet users specifically financial transactions. Data security is of utmost importance when customer make payment transfer through digital payment mode.

According to the recently published report by TechSci Research “Global Cyber Security Market By Security Type, By Solutions, By End Use Industry, By Region, Competition Forecast and Opportunities, 2011-2021”, global market for cyber security is projected to surpass US$ 137 billion by 2021. Growing trend of Bring Your Own Device (BYOD), rising adoption of cloud computing, expanding market for Internet of Things (IoT) are expected to continue driving the cyber security market across the globe over the next five years.