India's Digital Rise Demands Transparent Supply Chains For Cyber-Resilient Growth
India is in a transitional phase of becoming a digital superpower and interconnectivity is going to play an important role in growing development.
The digital supply chain being used today isn't just a software product but a technology inclusive of AI, blockchain and inventory management.
Despite challenges related to cybersecurity and large-scale data handling, there is an urgent need for transparency at every step of the data handling process.
The way we are adopting digital transformation, it is very important to understand how to secure our partners, and it is mandatory to maintain the ISO 9001:2000 benchmark," said Baidyanath Kumar, CISO and Data Protection Officer, JK Lakshmi Cement.
He added that in the supply chain, there is a critical role for service partners with whom the data is shared, and companies need to ensure "predictive analysis and evaluation of risk management."
There is much need for clear communication with the partnership ecosystem as they can understand the asking requirement and provide the same to the associated brand in a cost-effective manner.
Termination of clauses is very important if all the certifications are followed. For example, if ISO certification happens once a year, that doesn't mean that to get certified, only work is required; it is required to be kept in check every time.
As we live in a more interconnected system, "it's obvious that business work with multiple third parties is very important," said Debasish Das, Chief Information Security Officer, One Tata Operating Network (OTON).
He added that there is a myth that after signing a contract with a third party, brands believe the supply side will be responsible for all the faults; brands need to ensure security at each step by themselves.
Largely, it is dependent on third-party outsourcing. "There is a lot of data exchange happening, so visibility is required for those data flows," said Dr. Yusuf Hashmi, Group CISO, Jubilant Ingrevia.
He added a very important strategy step: knowing the information route for checks and balances for security.
Additionally, consistent monitoring is important for suppliers as they have data access, so information exchange should be a priority and they should be accountable for it.
"Supply chain-related cybercrime is rising. We have to work on transparent connectivity at each level," said Neha Taneja, Chief Information Security Officer at Hero MotoCorp.
She added the details of the Data Protection Act, which states that if the brand is sharing users' data with a third party, consent is required. If the consent is withdrawn by the user's side, data from each shared space should be removed, as the bill has severe penalties for these breaches if the brand and its associate do not care about the consent, she shared at the BW Businessworld Supply Chain Competitiveness Summit and Awards 2023.
