About 13% of the total cyber security incidents happen in the manufacturing industry, said Amit Koul, Head - Cybersecurity & Infrastructure, Uno Minda, has said.
Addressing the National Conference & Display on Automotive Cyber Security – Risks & Safeguard organised by ACMA in partnership with Howden India, Koul said that in 2021 alone, the ransomware attack costed around $20 billion to the manufacturing industry.
On the sidelines of the event, he told Mobility Outlook that while the OEMs and Tier-1 suppliers are continuously upgrading their technologies in digitalisation and cyber security, the Tier 2/3 players need to focus on these aspects. OEMs and Tier-1 players have started aiding the Tier-2/3 component supplier to up their ante in cyber security and digitalisation, he added.
Rajesh Uppal, CIO, Maruti Suzuki India, noted that many OEMs are still not accepting that cyber security can effect their businesses immensely. He reiterated that in today’s world, there are two types of OEMs, one who are aware of the fact that they have been a target of cyberattack and the other who are not aware of the fact that they are being attacked.
Vineet Madan, Director, Cyber Security Technology, NCoE, DSCI, added that convenience and security features are poles apart, and OEMs should strike the right balance between the two. As the need for connected and technological features increases day by day, vehicles must also get the same level of cyber security as it is done on mobile devices.
He noted that component players should start complying with the ISO and various other standards that have been introduced recently to protect the vehicles from any such threats.
Koul noted that Uno Minda has already started complying with various such regulations, as the company supplies components to international markets like Europe.
Vinnie Mehta, Director General, ACMA, stated, “As India increasingly becomes a significant player in global manufacturing, we anticipate a surge in technology adoption and digitalisation in the domestic automotive manufacturing sector.”
Consequently, cybersecurity risks will also escalate rapidly, underscoring the need for a forum where ACMA members, IT service providers, Cyber insurance specialists, and the wider automotive industry can examine current threats and discuss effective strategies to mitigate them, he added.
Amit Agrawal, Managing Director, Howden India, added, “As automotive firms pursue digital transformation initiatives, malicious entities will inevitably target their systems and try to disrupt business functioning, necessitating a comprehensive cyber insurance cover.”
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