Over 50% India firms raise ICT budget, cybersecurity key concern: Report

More than 50 per cent of enterprises in India have significantly increased their information and communications technology (ICT) budget this year compared to 2021, a report showed on Thursday, as cybersecurity becomes the key concern for firms in the country.

The uptick is due to the ongoing digital initiatives by the Indian government and a surge in the use of digital technologies due to Covid-19, reveals GlobalData, a leading data and analytics company.

“The optimistic enterprise ICT spending outlook in India for 2022 can most likely be attributed to the growing focus on technology-led investment towards digital transformation activities like cloud migration, automation, and upgrading of legacy IT infrastructure along with favourable government policies,” said Pragyan Tarasia, Technology Analyst at GlobalData.