Rise in cybersecurity budgets seen by over 82% of biz executives polled in India

India witnesses rise in Cybersecurity budgets

According to a PwC report, more than 82 per cent of business executives surveyed in India anticipate an increase in cybersecurity budgets in the coming year,

The survey highlights that of all the risks affecting organizations, India respondents consider a catastrophic cyberattack, a resurgence of COVID-19 or a new health crisis, and a new geopolitical conflict among the top three risks.
“Over 82 per cent of business executives in India foresee an increase in cybersecurity budgets in 2023,” said the PwC survey.

According to the survey, 89 per cent of Indian business executives say their organizations’ cybersecurity team detected a significant cyberthreat to business and prevented it from affecting their operations, as against 70 per cent globally.

According to the survey, organizations across the globe worry about more threats and cyber events in 2023 — 65 per cent of business executives polled felt cybercriminals will significantly affect their organizations in 2023 compared to 2022.

In India, cloud-based pathways (59 per cent) and the internet of things (58 per cent) are top areas of concern, followed by mobile devices and software supply chains (54 per cent). Globally, mobile devices are considered most unsecured (41 per cent).India witnesses