93% of Indian executives surveyed see cyber-budget increase next year: PWC report
- IBEF
- November 22, 2024
A significant 93% of Indian executives surveyed in PwC India's Digital Trust Insights 2025 report expect their cybersecurity budgets to rise next year, with 17% planning an increase of 15% or more. Notably, 42% of Indian business leaders prioritize data protection and remediation in response to recent cyber breaches as their primary investment for the coming year. The survey, which included 155 Indian executives among 4,042 business, technology, and security leaders globally, revealed that cybersecurity remains the top risk mitigation focus for 61% of Indian executives. This is followed by digital and technology risks (60%), inflation (39%), and environmental risks (30%) for the next 12 months.
The report highlights that cloud-related threats are a primary concern for 55% of Indian executives, while 50% of security leaders and Chief Financial Officers (CFOs) report unprepared to address these risks in the upcoming year. Regulations drive businesses to strengthen their cyber investments, with all surveyed security leaders and CFOs stating that compliance requirements have influenced their decisions. As a result, 74% are enhancing cybersecurity measures to bolster resilience. This emphasis on strategic investment and regulatory compliance is crucial for building a robust cyber framework for Indian businesses, ensuring they are better equipped to navigate future challenges.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
