India Bolsters Cybersecurity Budgets in Response to Escalating Threats
Image Source: The Economic Times
As cyberattacks surge, Indian enterprises are fortifying their cybersecurity budgets with a 75 percent increase for 2023. The rise in disruptive cyberattacks prompted this significant shift. Palo Alto Networks, a leading cybersecurity solutions provider, revealed that 67 percent of Indian government and essential service entities witnessed a dramatic uptick of over 50 percent in disruptive cyberattacks during 2022-23.
This survey, which included insights from 200 Indian IT decision-makers spanning various sectors, highlights the evolving cybersecurity landscape. Despite the increased budget allocation for 2023, India grapples with a surge in disruptive cyberattacks.
Palo Alto Networks emphasized the critical need to protect the nation’s infrastructure, public sector, and essential services, with the manufacturing sector particularly susceptible due to unsecured IoT devices. The transport and logistics industry also expressed heightened concerns. A notable shift towards automated security systems is evident, with 95 percent actively embracing automation. Furthermore, 45 percent reported a surge of over 50 percent in disruptive cyberattacks, the highest in the Asia-Pacific region.
To effectively combat these threats, a zero-trust architecture is imperative, alongside the automation of security operations centers to enhance efficiency and response to cyber threats. As India navigates this evolving landscape, a proactive approach to cybersecurity remains paramount in safeguarding its digital future.
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