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A report by PwC on Thursday said that all security leaders and CFOs have stated that regulations have prompted them to boost their cyber investments.

It said that 74% of them are enhancing or strengthening their cybersecurity stance. It underscores the critical role of strategic investments and regulatory compliance in shaping a resilient cyber future for Indian businesses.

Interestingly, the report highlighted that for the next 12 months, Indian executives rank cybersecurity as their top risk mitigation priority (61%), followed by digital and technology risks (60%), inflation (48%), and environmental risks (30%).

A recent findings from PwC’s 2025 Digital Trust Insights – India Highlights revealed that 93% of respondents anticipate an increase in their cybersecurity budgets next year.

17% of them are planning to raise their budgets by 15% or more—an increase of 1% from last year. Additionally, 42% of Indian business leaders are prioritising data protection and remediation in the aftermath of recent cyber breaches as their main cyber
investment for the coming year.

Cloud-related threats remain the foremost worry

The report highlighted that for the Indian executives, Cloud-related threats remain the foremost worry, cited by 55% of Indian executives as their most concerning cyber risk, marking a 3% increase from the previous year.

However, 50% of security leaders and chief financial officers (CFOs) feel least prepared to address these threats in the coming year.

Gen AI at helm of cyber investment priorities

The report further reinforcing the shift towards advanced technological defences, highlights that Gen AI is at the helm of cyber investment priorities, with 87% of organisations having boosted their investments over the last 12 months.

Additionally, 86% of organisations have increased their spending on AI governance as part of their risk management strategies. Furthermore, 80% of Indian companies are highly confident in their ability to comply with AI regulations.

Impact of cyber incidents remains substantial

Despite all efforts, the impact of cyber incidents remains substantial, the report stated.

The percentage of security leaders in India reporting a data breach with costs exceeding USD 20 million has decreased by 3% from last year to 8%.

Additionally, 44% of leaders have experienced a data breach costing over USD 500,000 in the past three years.

More than 33% of leaders indicate that most of their serious data breaches within the last three years have incurred costs of no less than USD 1 million.

  • Published On Nov 21, 2024 at 05:21 PM IST

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