Corporations too trusting of Indian security
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ERNST AND YOUNG&#39;S the Global Information Security Survey is just the latest to survey senior management&#39;s cluelessness when it comes to IT and are far too trusting when it comes to Indian outsourcing, it alleges.
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Too many business interests are clinging to a failed status quo and resisting necessary governance reforms, the government&#39;s top securities regulator said yesterday.
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Companies that have spent billions on cyberdefenses to thwart intruders are now addressing an even bigger threat: employees. Many are investing in software that monitors sensitive content inside corporate networks, say security analysts and venture capitalists.
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(InfoWorld) - It may now be the turn of Indian companies to offshore outside India their IT services requirements. Indian CIOs will have to consider outsourcing offshore, because of the shortage of IT skills in the country, and inadequate services standards of local service providers, according to research firm Gartner Inc. Indian companies have been looking at India alone for outsourcing, said a spokesman for Gartner India on Tuesday, who asked not to be named. They will now have to look at other locations like Singapore, Hong Kong, and even the U.S., he added. The services offshore will come at a premium to Indian prices, but will at least ensure that Indian CIOs get quality services, the spokesman said. Demand for skilled IT personnel as a result of initiatives like the Indian government's recent national e-governance program (NEGP), and resource-hungry Indian offshore service providers, are outstripping local supply, according to Gartner. Rapid economic growth in India is exacerbating the problem, and local chief information officers areÂ finding it difficult to manage the shortage of skilled local IT resources as internal business units become even more demanding in the area of IT requirements and schedules, the research firm added. Indiaâs gross domestic product (GDP) grew 9.2 percent in the countryâs fiscal year to March. A recent Gartner survey conducted among more than 1,400 CIOs worldwide showed that IT budgets in India had the highest growth of 16.19 percent, compared with an average of 3.16 percent in the rest of the world. Gartner warned in February thatÂ the problem for user organizations in India may only get worse as outsourcing companies start hiring business line managers from user organizations to build their vertical industry expertise. As large Indian outsourcers grow in revenue by 30 to 40 percent each year, they will hire business managers from the banking, manufacturing, and retail industries, that bring the business knowledge that can be integrated into their services offerings, it added. The focus of Indian outsourcers is primarily on markets in the U.S. and Europe where margins are far higher than in India, according to Gartner. Multinational services companies have targeted outsourcing deals by large Indian companies but the focus so far has been on very large deals, Gartner said in February. If Indian CIOs outsource work offshore, that may get Indian companies to try and reverse the trend, the Gartner spokesman said. An alternative to offshore outsourcing is for Indian CIOs to work with second and third-tier providers in India who are interested in local business, said the Gartner spokesman. The right provider may be able to provide domestic resources and perhaps a higher level of attention to issues and demands, he added. Â
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This year the leaders of some of the worldâs most respected financial institutions  have been caught either unaware or uninformed about giant risks their companies took.
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India and China established a 10-point strategy to strengthen economic relations and ease mistrust.
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With a growing economy and closer ties with the U.S., India has a growing military appetite that is attracting contractors seeking big arms deals.
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Indian Finance Minister Palaniappan Chidambaram seeks to allay foreign investor fears over the influence of communist parties on his government.
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Several initial public offerings have been withdrawn in India in recent weeks as once-resilient investors rethink their commitment to Indiaâs volatile stock markets.
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Throughout the European Union, governments are grappling with how to guard against terrorist attacks. Meanwhile, Indian IT services companies have beefed up efforts to protect data.
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In Sri Lanka, unreliable information can spark fear and security problems.
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Surprise, surprise -- CEOs' rosy remarks can't always be trusted.
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As once insular Indian companies prowl the planet for acquisitions, Indian-born executives are taking charge at some of the world?s top multinationals
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How can the company win back the trust of shareholders?
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The more money that companies spend on securing their IT operations from external attack, the more it seems they become aware that the potential threat posed by their own employees remains their most significant risk.
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Hyderabad-based IT firms are concerned that investors could pull out if unrest continues.
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Three aftershocks ultimately led to officials in India issuing what amounted to a false alarm.