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Over 50% Indian business executives believe they have fully mitigated cyber risks: PwC survey

Globally, businesses say cybersecurity budgets will increase, with PwC noting that “cybersecurity tops the agenda for resilience planning”

What’s the news: Over 50 percent of 103 business executives surveyed in India expressed confidence in fully mitigating cyber risks incurred since 2020, said a PwC survey on November 9, 2022. The ‘Global Digital Trust Insights’ survey looked at how senior executives plan to improve and transform cybersecurity in their organisation in the next 12-18 months.  Aside from speaking to Indian executives holding both business and tech/security roles, the survey also included 3,522 respondents across 65 countries. In India, the survey showed that 57 percent respondents believed they have fully mitigated cyber risks while enabling remote and hybrid work. Similarly, respondents said the same for enabling accelerated cloud adoption (61%); increased use of the internet of things (67%); increased digitisation of supply chains (52%) and back office operations (56%). Why this matters: Cyberattacks on both public and private sectors have risen during the pandemic time. Such attacks led to huge financial losses and also compelled companies to look at consumer loyalty and protection of consumer rights. It is desirable that executives are looking at possible ways to protect their data and mechanisms and by extension, protect their customers’ privacy and data rights. Highlights of the survey Top three security concerns: The survey talked about executives about their concerns regarding cybersecurity. The Indian respondents listed cloud-based pathways (59%) and the internet of things (58%) as top areas of concern, followed by mobile devices and software supply chains (54%). Meanwhile, globally executives listed mobile devices (41%), email (40%) and cloud-based pathways (38%)…

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I'm interested in the shaping and strengthening of rights in the digital space. I cover cybersecurity, platform regulation, gig worker economy. In my free time, I'm either binge-watching an anime or off on a hike.

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