The intersection of identity security and data privacy laws for a safe digital space

By Abhishek Gupta, Managing Director, India, SailPoint

In the current era of technology, where information or data is synonymous with currency, the intersection of identity security, cybersecurity and data privacy holds paramount importance. Being ranked as the world’s third-largest digital economy (as per State of India’s Digital Economy Report 2024), rapid digitalisation along with socio-economic changes presents opportunities for innovations and new services in India, along with the challenge of safeguarding the newly created digital identities and huge data sets that accompany this growth. A recent IBM Report highlights that in FY24, the average cost of data breaches in India reached a staggering Rs. 19.5 crore, a 7% increase from the previous year. Deployment of comprehensive identity security frameworks along with stringent data privacy policies will, therefore, promote trust in the entire digital framework among citizens, as well as businesses.

Rising security threats in ...