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Cybersecurity offers strong job opportunities

Most companies are facing a serious skill gap as enough professionals are not available

Published: Tue 5 Nov 2024, 6:00 PM

Updated: Tue 5 Nov 2024, 6:05 PM

  • By
  • HP Ranina

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Question: I am an electronics engineer working in the Gulf for the past three years. I am told that specialisation in cyber security would improve my prospects especially since I wish to migrate to the US in due course. I am in two minds whether to specialise in this field or not.

ANSWER: The evolving cybercrime landscape has resulted in significant challenges for industries as well as governments globally. The demand for cybersecurity personnel has therefore skyrocketed. The United States Bureau of Labour Statistics has projected a 32 per cent increase in cybersecurity jobs every year, the highest among emerging tech career options. Most companies are facing a serious skill gap as enough professionals are not available. Cyber regulations are being put in place to meet the challenges posed by malicious actors who exploit vulnerable consumer devices to gain access to personal data and even carry out large scale attacks.


Countries are therefore responding by introducing more stringent cybersecurity regulations for consumer devices. This has created a crying need for cybersecurity engineers, ethical hackers and compliance specialists to ensure that devices meet all the new guidelines. Further, companies are engaging skilled cybersecurity experts to develop secure products, perform risk assessments and manage compliance requirements. The Indian Government has put in place regulations such as the Code of Practice for Securing Consumer IoT and the Digital Personal Data Protection Act. Thus it would be a good idea for you to specialise in cybersecurity and become a skilled cybersecurity professional with prospects of highly paid jobs both in the United States and India.

Question: Several multinational companies are setting up base in India. CEOs of Indian origin are also being recruited. However, leadership roles are not given to women. Is this trend changing?

ANSWER: Global roles in India have multiplied over the past five years. Of the more than 6,500 positions, currently 1,100 are held by women according to a recent report. The rising trend of women taking up leadership roles has been witnessed in global capability centres where women have been placed at the helm. At these companies, women have stepped beyond traditional marketing and HR roles. They are now looking after core engineering, innovation charters, finance charters, etc. The GCCs are greatly benefited by this development as women in lead roles have introduced new insights to the decision making processes. It has been found that women are not just participants but increasingly they become key decision makers, driving innovation with a fresh approach. In short, gender bias against women is now on the decline and women are able to reach the top of the corporate ladder at an early age as they bring unique leadership styles that emphasise collaboration and resilience. These qualities are greatly appreciated in the complex business environment that exists today.

H. P. Ranina is a practising lawyer, specialising in tax and exchange management laws of India.

H. P. Ranina is a practising lawyer, specialising in tax and exchange management laws of India.

Question: Despite the rising population in India, the tax base of individuals has not increased. However, I may be wrong as I have lost touch with the actual figures. Can you give some information?

ANSWER: The number of tax payers has gone up dramatically during the past few years. The increase is primarily in the field of personal taxation. For the financial year 2014-15, the number of individual tax payers was 57 million. For the financial year 2023-24, the number of tax payers has almost doubled to 104 million. The actual personal income tax collection was Rs.7 trillion for the financial year ended on 31st March, 2015. This figure has soared to Rs.19.6 trillion for the financial year ended 31st March, 2024. The contribution of direct tax to total tax revenue has reached a 14-year high of 56.7 per cent. Both advance tax payments made directly by individuals as well as the withholding tax recovered from assessees has been going up at a rapid pace. The cost of collecting taxes has been showing a downward trend as the total tax revenues increase. This is partly on account of a rationalized tax administration as well as computerization of the tax department. Income tax receipts from individuals have increased on account of rising income levels in India due to robust economic growth. Further, the tax department is making full use of technology to expand the tax net, apart from using modern tools like artificial intelligence and data analytics. For the past three years, tax collected from individuals has surpassed the tax collected from the Indian corporate sector. This is the first sign that India is moving into the league of developed nations.

The writers is a practising lawyer, specialising in corporate and tax laws of India.



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