Essential Strategies: How Aligning Cybersecurity Budgets with Growth Goals Empowers Indian Businesses | Kaspersky Insights
In 2023, India experienced a surge in brute force and targeted cyberattacks, with ransomware accounting for every third reported cyber incident, as noted by cybersecurity firm Kaspersky. Adrian Hia, Managing Director for the APAC region at Kaspersky, highlighted the urgent need for Indian businesses to align their cybersecurity budgets with growth objectives to handle increasing digital threats.
With the emergence of modern technologies like artificial intelligence and GenAI, companies must digitize their operations to boost business growth. However, this digital transformation also broadens the attack surface, making businesses more vulnerable to sophisticated cyberattacks. Hia stressed that if businesses target a 20% growth, their cybersecurity budget should also increase by 20% to ensure proper defense mechanisms are in place.
A SonicWall report revealed an 11% rise in malware attacks in India, totaling 1,344,566 incidents in 2024, compared to 1,213,528 the previous year. The growing amount of data exposed online and the proliferation of smartphones are contributing factors, with nearly 3 billion smartphones in India expanding the attack surface significantly.
Despite the risks, companies are pushed to adopt new technologies to stay competitive. Hia considers artificial intelligence a “double-edged sword,” essential for profitability but also a potential threat to data security. In response, the Indian government is also stepping up efforts to address these cybersecurity challenges.
This highlights the critical need for businesses to invest substantially in cybersecurity measures to protect sensitive data and ensure sustainable growth amid increasing digitalization and potential threats.
Original Story https://www.business-standard.com/technology/tech-news/indian-biz-need-to-align-cybersecurity-budgets-with-growth-goals-kaspersky-124081800239_1.html
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