As global macroeconomic conditions worsen and funding slowdown continues, Indian startups are cutting their spends on an integral part of tech businesses – cloud storage – by renegotiating contracts with service providers like AWS and Google Cloud, multiple startup founders told ET.
Many of these companies have slashed cloud expenses by 20%-30% while some growth stage startups such as ecommerce platforms Meesho and Dealshare have brought down their cloud expenses by 50%, under pressure to control their cash burn, they said.
Cybersecurity ecosystem
The Data Security Council of India has forecast that the cybersecurity ecosystem will expand up to a point where nearly one million professionals will be required by 2025. Additionally, the demand for cloud security skills is estimated to grow by 115% between 2020 and 2025, representing almost 20,000 job openings, Narayan added.
