Month: March 2024

With the ‘mantra’ of ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas,’ and the whole of nation approach of ‘Sabka Prayas,’ the Union Minister for Finance and Corporate Affairs Nirmala Sitharaman presented the Interim Union Budget 2024-25 in Parliament on February 1, 2024. This Indian Union Budget for 2024-25 was an interim budget owing to upcoming election. Since it was an interim budget, it focused on essential expenditures and avoided making major policy changes, as a full budget will be presented after the general elections scheduled for later in 2024. The security industry has taken the budget on a positive note. Views of some of the industry stalwarts are being published in this issue of magazine that will be of huge value adds for the readers. “A growth oriented budget for a new and empowered India” Ashish P. Dhakan MD & CEO Prama Hikvision India Private Limited We welcome the growth oriented interim budget 2024-2025 with a clear roadmap for a new and empowered India. This budget has the vision of ‘Jan Kalyan’ (Public Welfare) and Viksit Bharat (Developed India) with the idea of inclusive growth. It has a clear imprint of the government’s mantra ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas.’ It is a visionary budget with special focus on infrastructure development, inclusive growth and skilling youth. The agenda of empowering Amrit Peedhi (the emerging generation) through multiple schemes and initiatives (Skill India Mission, PM Mudra Yojna and Start-Up India) is quite evident in the budget. These initiatives are assisting our youth and entrepreneurs while delivering amazing results. The Indian Electronic Security Industry is hoping for more concessions and tax rebates for strengthening the manufacturing sector. This will help to enable the latest technologies and security products for the greater good. We sincerely hope that the Finance Minister would consider the key concerns of the key electronic security Industry stakeholders in the future policies and tax reforms. We are sure that the government will continue to support the Make-in-India 2.0 with a clear roadmap and policy structure. The Electronic Security Industry is expecting the continued government support to contribute significantly to the nation’s economic growth. Vishak Raman VP of Sales, India, SAARC, SEAHK & ANZ, Fortinet The cybersecurity challenges have expanded at an unparalleled rate, witnessing a 68% surge in the detection of unique cyber threats over the last 5 years according to FortiGuard Labs. Addressing this threat requires unified approach, leveraging strong partnerships and collaborative efforts across both the public and private sectors, as well as various industries. Understanding the gravity of these concerns, the government has significantly elevated its commitment to safeguarding our nation’s critical infrastructure and digital assets. The latest budget reflects this dedication, nearly doubling the cybersecurity funding from Rs.400 crores in the previous fiscal year to Rs.759 crores for the current year. This significant increase in investment towards cybersecurity initiatives arrives at a crucial moment, as we face an expanded threat landscape fuelled by the rapid proliferation of IoT devices and the merging of Operational Technology (OT) and Information Technology (IT) networks. Dr. Niranjan Hiranandani Founder, Hiranandani Group and Chairman, National Naredco Hon’ble FM decoded an integrated and equitable growth budget outlay encompassing significant social reforms, enhancing economic growth value chain, emphasize of sunrise sectors and impetus to urban & rural housing with mega infrastructure projection. India has risen in its global leadership by paving the way for world economies, setting new standards, establishing strong geo-political allies and corroborating address geo-economic vagaries. The buoyancy in the domestic economy is an outcome of the comprehensive GDP growth mantra in the pursuit of the ‘Sab ka Saath, Sab ka Vikaas’ objective. Keeping the fiscal consolidation target at 5.1% will decrease the cost of borrowing for businesses and industries. This in turn will help stimulate economic growth, stabilize the economy and reduce the risks of inflation. The enhancement in infrastructure outlay by 11% will bode well for firming up the growth of residential, commercial and industrial real estate asset classes across the geographies. The augmentation of multimodal corridor connectivity with new railway corridors, and doubling of airports and ports corridors will have a multiplier effect on the real estate landscape. The extension of the PMAY scheme for rural areas is in accordance with the objective of Housing for all laid by the Hon’ble PMO. A focused direction is set for addressing the housing deficit needs of the urban poor with the buy or build house motto. The continual skilling & Upskilling of the working populace will help the sector gain a competitive advantage and increase direct as well as indirect employment opportunities. Therefore, India’s vision for ‘Amrit Kaal’ is stated very clearly and thus the country is on track to becoming ‘Vikshit Bharat’ by 2047. Kumar Gaurav Founder & CEO, Cashaa (Fintech) We indeed were expecting some progress on the lines of the regulatory framework in the crypto sector, which has been one of the primary speculations all this while. Nevertheless, the government is whole heartedly accepting technological disruption in different sectors by emerging technologies like AI, machine learning, blockchain etc. Adoption of deeptech in sectors like defence indicates a positive sentiment. We do understand that it is an interim budget, and there has been no mention of any regulatory framework or rationalization in tax or TDS structure, in regard to the crypto sector which has been long pending. However, we are hopeful about the coming months and expect to hear encouraging policies soon. Rajendra Chitale Chief Finance Officer Crayon Software Experts India Today the honorary Union Finance Minister Nirmala Sitharaman presented the interim budget for FY2024-25. The call for Viksit Bharat i.e., Developed India will be the north star for businesses to ‘Reform, Perform and Transform’. The efforts to realise the dream of developed India by 2047 are idealistic and we at Crayon look forward to contributing towards this goal. The focus provided by the government in upskilling and reskilling 54 lakh youths and training close to 1 crore youths through the Skill India Mission instils…

The security industry in 2024 is an exciting landscape that we are actively navigating. As we embrace technological innovation, and adapt to evolving societal needs, we are witnessing the convergence of advanced technologies like Artificial Intelligence (AI), the Internet of Things (IoT), and big data. These innovations are paving the way for smarter, more proactive, and predictive security solutions that are not only robust, but also meet the easy-to-use demands of users. In this article, we want to share the top seven trends that we anticipate will have a significant impact on the security industry this year. AI is accelerating the augmentation of perception in machines AI is accelerating the transformation of the security industry by enhancing machines’ perceptual capabilities. This is possible thanks to integration with visible light, audio, X-ray, infrared light, radar, and other technologies. One example of this is Artificial Intelligence Image Signal Processing (AI-ISP) technology, revolutionizes video imaging and provides high-quality visuals through intelligent noise reduction. This enables clearer images with wide dynamic range and sharp detail even in low-light environments, reducing reliance on additional lighting and leading to more efficient situational responses. AI-driven applications are set to revolutionize diverse industries In the past year, advancements in large-scale AI models have improved the ability to interpret complex situations using diverse data. We believe this progress creates possibilities for more tailored AI solutions across various sectors including manufacturing, energy, healthcare, and education. Based on open platforms and advanced algorithms, more streamlined architectures facilitate seamless AI adoption in a range of different verticals. This fosters collaboration and creates an innovative ecosystem for technological advancement. Cloud and edge computing convergence is accelerating The convergence of cloud and edge computing is driving the emergence of faster and more efficient services. This leads to real-time, intelligent solutions, like smarter perimeter control and more convenient cloud-based security system management, empowering us with immediate analytics and better decision-making at the edge. Cloud-based platforms also minimize hardware investments and offer scalable options for businesses of all sizes and budgets, reducing upfront and ongoing costs. Digital twin technology has the potential to revolutionize business management Digital twins are virtual models that simulate real-world scenarios in real time. By integrating with AIoT, cloud computing, and other technologies, they provide us with dynamic insights on performance metrics like security, traffic, and energy usage. This enables an immersive experience with synchronized visuals, improving process efficiency, enabling proactive maintenance, and leading to cost savings and better business management. Display technology, particularly LED, is advancing rapidly The rapid adoption of COB (Chip-on-Board) technology is driving demand for small-pitch LEDs. Innovative LED solutions are also emerging that balance lower energy consumption with high resolution, promoting carbon neutrality, and supporting broader applications. Integrated video walls in command centers, for example, help us make smart decisions with intuitive views. Interactive displays and digital signage are acting as catalysts for digital transformation in education, business, and the hospitality sectors. Digital identity authentication security is increasingly crucial in safeguarding cybersecurity Digital identity authentication involves verifying and authorizing identities, which is a pivotal cybersecurity measure. Threat actors use techniques like phishing, malware, and social engineering to steal personal information and identities. To safeguard digital identities, users and organizations should employ strong passwords, use multi-factor authentication, avoid public networks, update software in a timely manner, and guard against social engineering attacks. Innovative technologies drive environmental sustainability and climate change resilience Industry stakeholders are increasingly adopting green practices to reduce carbon emissions and resource usage. This includes efficient product transportation, sustainable packaging, and standardized component utilization. We also expect to see innovative technologies being used to increase climate change resilience. By integrating environmental sensors into security systems, for instance, we can better respond to natural disasters like floods, wildfires, landslides, and avalanches.  

Prama India and Government of India’s C-DAC (MeitY) recently announced a technology partnership through the ‘Transfer of Technology’ (ToT) pact for thermal cameras with Centre for Development of Advanced Computing (C-DAC), Ministry of Electronics & Information Technology (MeitY), Government of India. The ToT (Transfer of Technology) agreement with (C-DAC) enables Prama India as a technology partner to manufacture, market and support the innovative solutions. With this significant initiative, Prama India has created a new benchmark in the Indian Security Industry. This new initiative by Prama India will bolster R&D and help to develop innovative thermal technology applications. This technology partnership was officially announced by C-DAC at the ‘Digital India FutureLabs’ launch event held at IIITM, New Delhi, in the presence of Rajeev Chandrasekhar, Minister of State for Electronics & Information Technology, Skill Development & Entrepreneurship and Jal Shakti, Government of India. Shri Chandrasekhar launched the ‘Digital India FutureLABS’ and delivered the keynote address at the ‘Digital India FutureLABS Summit 2024,’ focused on ‘Catalyzing the Next-generation Electronics System Design through Digital India FutureLABS.’ The Centre for Development of Advanced Computing (C-DAC) is the premier R&D organization of Ministry of Electronics & Information Technology (MeitY) for carrying out R&D in IT, Electronics and associated areas. On this momentous occasion, a Prama India representative said, “The signing of Transfer of Technology (ToT) agreement for thermal camera technology with C-DAC, Thiruvananthapuram is a new milestone in our indigenous manufacturing journey. We at Prama India are committed to the vision of Atmanirbhar Bharat (Self-reliant India) for achieving the goal of Viksit Bharat (Developed India) and Surakshit Bharat (Secured India). This joint initiative by C-DAC and MeitY has created a landmark milestone for Prama India, which is a leading indigenous manufacturer of Video Security Products and Allied Systems. We hope that our technology partnership with C-DAC will bolster the cause of R&D and product innovation. This technology collaboration will help us in developing innovative solutions as per the requirements of end-users.” He further added, “The certificate of partnership states that Prama India is the Technology Partner of Centre for Development of Advanced Computing (C-DAC) for general purpose thermal camera. Prama India is the authorized to manufacture, market and support general purpose thermal camera in India as per the transfer of Technology agreement with C-DAC, Thiruvananthapuram.” Incorporated with the core belief to put India on the global map for video security products, Prama India has its state-of-the-art manufacturing facility near Mumbai. It is the first mover indigenous manufacturing company with the vision of ‘Atmanirbhar Bharat’. The indigenous brand, PRAMA celebrates the maxim of ‘Made for India, Made by India and Made in India’ and manufactures high quality video security products catering to all the security needs. Prama India has the world-class manufacturing facility to help transform India into a global manufacturing and export hub for video security products. The company has a commitment to ‘Surakshit Bharat’ resolve through indigenous manufacturing of video security products. Rajeev Chandrasekhar, Minister of State, MeitY said, “The Digital India FutureLABS is the final piece in architecture for innovation being built by our PM since the launch of Digital India programme in 2015. It represents an opportunity for Indian startups at the forefront of developing NextGen Electronics in Automotive, Compute, Telecom, Industrial and Strategic Electronics. Digital India FutureLABS will act as a catalyst for this and in rounding off our ambitions of ensuring the Indian flag on every segment of emerging Tech Innovation.” The Summit also witnessed an announcement of 22 MoUs of C-DAC with Industry for implementation of the FutureLABS. The event was hosted by E. Magesh, Director General, C-DAC and Ms. Sunita Verma, Group Coordinator, R&D in Electronics and IT (MeitY) in association with Ranjan Bose, Director IIITM, New Delhi. The Digital India FutureLABS, coordinated by C-DAC, aims to tap into the trillion-dollar opportunity presented by the Electronics System Design and Manufacturing (ESDM) sector. The initiative seeks to move up the value chain, fortify domestic R&D, and create a collaborative ecosystem for the development of IPs, standards, and the nextgeneration Electronics System Design in the country. Focusing on key growth areas such as Compute, Communication, Automotive & Mobility, Strategic Electronics, and Industrial IoT, the FutureLABS initiative is strategically positioned to leverage futuristic technologies, including AI, Big Data, and Quantum Computing, marking a transformative phase in Indian research.