Most Indian firms to increase cybersecurity budget in 2022

A majority of Indian organisations (80 per cent) are likely to increase their cybersecurity budget in 2022, according to a survey by global consultancy firm PwC.

As per the PwC’s 2022 Digital Trust Insights Survey, the risk landscape is continuously evolving and organisations are investing more than ever in cybersecurity to manage their risks.

As the business environment turns more complex due to the interconnectedness of systems and information, the impact of a risk event is not limited but rather has a domino effect with high consequences, it said.

Organisations are therefore gearing up to implement robust cybersecurity practices and controls to manage these risks.

“…82 per cent of the Indian respondents have predicted an increase in their cybersecurity budget in 2022. Moreover, 41 per cent of organisations in India predict double-digit growth in their cyber budgets in 2022, as against 26 per cent organisations globally,” the survey said.

The 2022 Global Digital Trust Insights is a survey of 3,602 business, technology, and security executives (CEOs, corporate directors, CFOs, CISOs, CIOs, and C-Suite officers) based in various regions. The India edition of the global survey report focuses on the responses of the executives of 109 Indian businesses. PTI