Cyber threats a risk, but financial sector well equipped: DFS secretary
US tariff easing brightens outlook for Indian exporters, says DFS secy Nagaraju
 "Cyber threats a risk, but financial sector well equipped: DFS secretary")
Department of Financial Services (DFS) Secretary M Nagaraju on Tuesday said cyber threats would remain a persistent risk, but expressed confidence in India’s ability to prevent and mitigate them, particularly in the financial sector.
“Cybersecurity will always remain a threat because our lives are intertwined with the internet. But given India’s strength in the information technology sector, whenever there is a threat, we will come up with a solution — both for prevention as well as mitigation,” he said, adding that the financial system is well prepared to address emerging risks, including those arising from AI and deepfakes.
Speaking on the sidelines of the 10th edition of Exim Bazar organised by Export-Import Bank of India in New Delhi, Nagaraju also struck an optimistic note on exports. With US tariffs set to decline to 18 per cent from 50 per cent and key trade engagements nearing completion, the outlook for Indian exporters, especially in handicrafts, is “bright”, he said.
“With both the EU and US deals more or less completed and higher tariffs being withdrawn, I see a bright future for Indian exporters to the US and other markets,” he said.
Nagaraju lauded Exim Bank’s support for MSME exporters, particularly artisans in handicrafts and handlooms, saying institutional backing has helped them access global markets and improve product quality. Artisans have reported strong sales at the annual event, which marks its tenth year in the national capital.
According to him, artisans have reported strong sales and improved access to global markets due to institutional support.
Referring to the government’s recently launched export mission and a DFS-backed guarantee framework to cushion exporters against adverse global trade conditions, he said the measures were yielding positive results.
On the role of artificial intelligence in trade, Nagaraju said AI would enhance connectivity and information flows, but stressed that product quality and competitive pricing remain critical, particularly in traditional sectors.
“AI is going to impact and improve connections. But ultimately, especially for handicrafts, our country is known for a long history of handicrafts and handlooms,” he said.