Most CEOs in India seek cyber-risk management plan next year: PwC study

Most chief executive officers (CEOs) in India would demand a cyber-risk management plan for major business or operational changes in the next 12-18 months, said a PwC report on Wednesday.

One in four companies across the world has suffered a data breach that cost between $1 million to $20 million or more in the past three years. Despite cyberattacks costing businesses millions of dollars, less than 40 per cent of executives surveyed worldwide said they have fully mitigated cybersecurity risk exposure in several critical areas.

More than 82 per cent of business executives in India foresee an increase in cybersecurity budgets in 2023, said PwC’s ‘2023 Global Digital Trust Insights’. Around 52 per cent of the CEOs said they would drive initiatives that improve cyber security.