MarketSmith India has adopted a ‘wait and watch’ approach toward eMudhra following a recent compromise of its web data, according to Mayuresh Joshi, Director Research at Marketsmith India. The firm currently has no cybersecurity companies under active coverage as it evaluates the fallout from the breach and monitors how entities like Protean eGov navigate the current environment.
Affected businesses typically recover over time by fortifying their internal systems and processes. The immediate expectation is for these firms to strengthen their technology stacks to prevent future vulnerabilities and identify the root causes of the breaches.
The constantly evolving nature of cyber threats complicates the development of standalone defensive software. A recent conversation with the management of an IT services company—which deploys cybersecurity for public sector undertaking (PSU) sites using approved foreign vendors—highlighted the structural challenges of the sector.
“There are so many malware, so many bugs that are creeping up into the system itself, that if you try to build in one built-out product, which is a cybersecurity product individually as a retail or enterprise level as well, those things are changing constantly,” Joshi explained.
Because of these shifting variables, creating a single unique cybersecurity product remains highly difficult. Instead of focusing on a unified product, the industry emphasis must shift toward solidifying the underlying processes required to ensure data breaches do not occur.
For the full interview, watch the accompanying video
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