$3.1 mn spent on privacy last year by businesses in India: Report

The average privacy spending by businesses in India was $3.1 million in 2022 and $2.4 million in 2021, a new report said on Monday.

According to a report by networking giant Cisco, about 85 per cent of respondents in India recognise significant business benefits of privacy investment, and 41 per cent of respondents identify privacy as a core skill in the country.

Moreover, estimated privacy benefits in India have been $2.8 million in 2021 and $3.5 million in 2022.

“As the study shows that, despite a challenging economic environment, organisations continue to invest in privacy, with spending in India significantly up almost 30 per cent in the last year,” said Samir Kumar Mishra, Director of Security Sales, Cisco India & SAARC.