India Cybersecurity

Only 24% of Indian Companies Ready Against Cyber Threats: Cisco Study

Published on: March 21, 2023
Last Updated: March 21, 2023

Only 24% of Indian Companies Ready Against Cyber Threats: Cisco Study

Published on: March 21, 2023
Last Updated: March 21, 2023

A recent study conducted by Cisco underscores the need for improved cybersecurity measures in India.

The Cybersecurity Readiness Index study conducted by Cisco, a leading multinational technology conglomerate, reveals that a mere 24% of companies surveyed in India are ready to defend against cybersecurity threats.

Highlighting the importance of preparedness, the Cisco survey indicated that 90% of participants anticipate a cybersecurity breach to cause disruption to their business within the next 12 to 24 months.

According to a survey conducted by an independent third party, India has a high score in global rankings for maturity in cybersecurity readiness, at 24%, surpassing the global average of 15%.

However, 38% of companies in India are still in the beginner or formative stages.

The survey involved 6,700 private sector cybersecurity leaders from 27 markets, who were asked to indicate their deployment of solutions and current stage of readiness.

Despite performing better than the global average, the percentage of organizations in India that are prepared for cybersecurity threats is still quite low, considering the associated risks.

As stated by Samir Mishra, Director of Security Business Group, Cisco India and SAARC, “Cybersecurity is a top priority for businesses as they continue their digitization journey.

With hybrid work becoming the mainstay and services being application-driven, it is critical that organizations close the security readiness gap.”

This statement is supported by the fact that 80% of respondents experienced a cybersecurity incident in the past year, and among those impacted, 53% reported a cost of at least USD 500,000, emphasizing the significant expenses that can result from being unprepared.

In a separate announcement, Cisco stated its goal to train 500,000 cybersecurity professionals in India over the next three years.

“With the speed and scale of digitization across the country, there will be an increased demand for skilled cybersecurity professionals as organizations look to defend themselves against an evolving and complex threat landscape”

Cisco’s 10-year plan is to prepare 25 million people with digital skills globally through the Cisco Networking Academy.

According to Money Control, the flagship program is celebrating its 25th anniversary this year and has reached 17.5 million students across 190 countries.

Since starting operations in India, it has trained 1.2 million students through 718 partnerships with educational institutions and organizations.

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Written by Husain Parvez

Husain has been around the internet ever since the dial-up days and loves writing about everything across the technosphere. He loves reviewing tech, writing about VPNs, and covering Cybersecurity news.