A paper by ASSOCHAM-PwC suggested that with cyber crime figures showing a rising trend, the government should sharply increase spending on cyber security to a level that matches the changing threat landscape.
"The government should allocate adequate budget for cyber security related initiatives such as capacity building, training of the workforce, implementing awareness programmes, and promoting research and development," it said.
It also suggested the industry to make budgets to expand efforts to attract and retain qualified cyber professionals.
"It is important to take proactive measures rather than reactive methods as building safe environments will always be the best line of defence against rising cybercrime," suggested the paper.," it said.
According to the paper, Government should look at developing comprehensive and mature security policies to ensure that emerging technologies such as cloud and Smart Cities are protected from cyber threats and risks, and help create a dynamic digital economy.
The paper also suggested that 'safety first through security by design,' should be the motto. "Security by design ensures reduction in overall cost to the business and increases the efficiency of the system by making it robust and secure."
It highlighted the need for law enforcement agencies and their personnel to be trained in requisite cyber skills to ensure that digital evidence is secured efficiently and properly used in criminal proceedings.
"Cyber security related training must be imparted to the police, judges and lawmakers so that they are capable of taking cyber-safe decisions," said the paper suggesting various ways to address the growing risk posed by criminals and nation states in the digital world.