As global macroeconomic conditions worsen and funding slowdowns persist, Indian startups are reducing their spending on an essential tech business component – cloud storage. By renegotiating contracts with service providers like AWS and Google Cloud, many startups aim to manage their budgets more effectively.
Several startup founders have reported to ET that their companies have successfully slashed cloud expenses by 20%-30%. Some growth-stage startups, such as ecommerce platforms Meesho and Dealshare, have achieved even more significant reductions, cutting their cloud costs by 50% to control cash burn.
In response to these cutbacks, the top three cloud service providers – Amazon Web Services (AWS), Google Cloud Platform, and Microsoft Azure – are engaging in pricing wars to attract startups to their platforms during the current economic downturn.
Over recent months, AWS competitors have approached several startups, offering lower prices to entice them to switch providers. Founders confirmed that they have used pricing quotes from Google Cloud and Microsoft Azure to renegotiate discounted contracts with AWS, their primary cloud service provider.
This competitive landscape highlights the aggressive tactics cloud service providers are employing to retain and gain market share in challenging times. As startups continue to navigate economic pressures, strategic cloud cost management remains a critical focus.
Cybersecurity ecosystem
The Data Security Council of India predicts that the cybersecurity ecosystem will require nearly one million professionals by 2025. The demand for cloud security skills is expected to surge by 115% between 2020 and 2025, translating to almost 20,000 job openings, according to Narayan.
Staffing experts suggest that an extensive reskilling and upskilling exercise is crucial for future-proofing the workforce, particularly in the telecommunications sector.
With the rollout of 5G, Indian mobile phone operators are anticipated to at least double their investments in network security. The 5G rollout is expected to increase network vulnerabilities, making robust security measures critically important, especially for enterprises.
However, telcos are already facing challenges in building strong security teams to address these emerging threats.
“Even if we do not talk about 5G (specifically), the security talent in general in the country is very sparse at the moment. We need to get more (security) professionals in the system”
The Data Security Council of India predicts that the cybersecurity ecosystem will require nearly one million professionals by 2025. The demand for cloud security skills is expected to surge by 115% between 2020 and 2025, translating to almost 20,000 job openings, according to Narayan.
Staffing experts suggest that an extensive reskilling and upskilling exercise is crucial for future-proofing the workforce, particularly in the telecommunications sector.
With the rollout of 5G, Indian mobile phone operators are anticipated to at least double their investments in network security. The 5G rollout is expected to increase network vulnerabilities, making robust security measures critically important, especially for enterprises.
Bharti Airtel, for example, has been preparing for the 5G rollout by upskilling its professionals and offering them certification courses such as CCNA (Cisco Certified Network Associate) and CCNP (Cisco Certified Network Professional). These courses, offered based on skill and eligibility levels, are provided free of cost.
However, telcos are already facing challenges in building strong security teams to address these emerging threats.
Even if we do not talk about 5G (specifically), the security talent in general in the country is very sparse at the moment. We need to get more (security) professionals in the system.