European Union (EU) Requested CBI To Join Cyber Security Project Worth $52.5 Billion

European Union (EU) has invited India to participate in a mega cyber security and cyber crime project worth 52.5 billion dollar (Rs 3.62 lakh crore) to secure economic and security interests of various countries globally. 
India has been asked to join a select group of nations to be involved in this research and information technology driven innovation project. Apart from US, Brazil and South Africa are other partners of EU in this project that will be kicked off shortly. The project that has counter-terrorism as a key component is likely to be part of a separate pact that EU and India will sign early next month at the twelfth summit between two sides.
As per the proposed pact, India and EU apart from other members would jointly fund as well as research on cyber crime and cyber security issues across the world. 
The project is intended to develop protocols and systems for preventing terror attacks physically and on information highway, an external affairs ministry official told Financial Chronicle on condition of anonymity. This massive project to be implemented over next eight years include securing electrical power systems by identifying the vulnerability, put in place defence systems and restoration in case of disruption. The project will also lead to protection of critical defence and civilian economic infrastructure from cyber attacks.
Risk prediction, analysis and reaction to critical infrastructure, is also expected to be put in place through this project. Private, public sector companies and government agencies would be involved in this project. Two rounds of consultation have already been completed between both India and EU on concluding the cyber crime and cyber security pact in February 2012. India and European Union will explore cooperation between CBI and EU’s home department for training on tackling cyber crime, establish single point of contact and also do joint research in the mega innovation project.


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