Press "Enter" to skip to content

Cisco looks to make hay as data bill may bring in deals from government, banks

BENGALURU: Cisco will ramp up local data storage facilities for its Cloud solutions in India in line with the Personal Data Protection Bill, a senior executive said, as the technology and networking company eyes a bigger pie of the banking and government business.

The $52 billion tech leader has been focusing on software-led revenue growth and subscription-based deals across global markets.

“The cloud market in India is growing very fast. So, a lot of our Software as a Service (SaaS) solutions play very well in the transition that you are seeing in the Indian market,” Maria Martinez, executive vice president at Cisco, told ET in an interview.

“We are looking at ways in which we can make it aligned with the Data Protection Bill, while at the same time build potential in certain segments, like banking, where, you know, data protection is a critical component,” she said.

The Bill, which was introduced in the Lok Sabha on December 11, will be examined by a joint parliamentary committee.

Martinez said the company was “evaluating the process” of having local storage facilities for cloud and other SaaS solutions for the Indian market.

After the RBI mandated last year that data of all payment banks should to be stored in servers locally, banks and payment service providers can no longer use SaaS or cloud-based solutions that do not ensure local storage of data. “So, that is an opportunity if we decide to bring in some of our cloud storage facilities locally,” Martinez said.

The company’s government affairs team has been discussing issues related to the Bill and giving feedback, said Sameer Garde, president – India and Saarc, Cisco.

Cisco said Europe’s General Data Protection Regulation, which came into force in May last year, prompted the company to invest significantly in technology. The company would also make huge investment in technolgy in India.

India is among the top three markets for Cisco globally, Martinez said. “From an ongoing growth, it is probably the top market, where we see the growth will continue year over year,” said Martinez.

Source: Economic Times