New Delhi, November 19 (IANS). Indian companies have identified cyber attacks and data breaches as their top business risks, while AI and climate change are the future business risks till 2028. This information was given in a report on Wednesday.
Global professional services firm Aon said challenges remain in attracting and retaining talent, while property damage and exchange rate fluctuations are higher in India than anywhere else in Asia.
Rishi Mehra, India CEO, Aon, said, “Indian businesses are demonstrating remarkable agility amid digital disruption, talent adaptability and geopolitical shifts.
77.8 percent of Indian respondents say they have suffered losses due to property damage, 46.2 percent due to business interruption and 63.6 percent due to exchange rate fluctuations.
The report said that for almost half of the respondents, the losses were due to talent-related challenges and cash flow/liquidity.
Risk management is becoming increasingly formalised, with 70 per cent of respondents having established dedicated risk and insurance teams. 64.9 percent respondents are measuring the total cost of insurable risk.
92.9 percent of respondents have plans and formal reviews for cyber attacks. 90.9 percent of the respondents have plans for property damage. At the same time, 55 percent of the respondents are focusing on talent retention.
With over 400 startups and a skilled workforce of 6.5 lakh professionals powering the $20 billion cybersecurity industry, India is fast emerging as a global cybersecurity hub, according to IT Ministry data.
CERT-In is building a strong and credible cyber defense architecture through research collaborations and public-private partnerships in international forums, aligned with the Digital India vision.
–IANS
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