Indian Businesses Urged to Boost Cybersecurity Budgets Amid Digital Transformation

Indian businesses are being advised to increase their cybersecurity budgets in line with their growth objectives to combat rising digital threats. As cyberattacks become more sophisticated with new technologies, a top Kaspersky official emphasizes the need for robust cybersecurity measures to ensure sustainable growth.

Indian businesses need to align their cybersecurity budgets with their growth objectives to ensure sustainable expansion amid increasing digitalisation and associated risks, a top official from Kaspersky has said.

The emergence of new-age technologies, including artificial intelligence and GenAI, is critical for companies to boost their businesses, according to Adrian Hia, Managing Director for the APAC region at Kaspersky.

He mentioned that digitalisation increases the attack surface area, opening avenues for sophisticated cyberattacks. If businesses aim to grow by 20 per cent, they need to boost their cybersecurity budget accordingly. A report by SonicWall recorded a significant rise in malware and ransomware attacks in India, exacerbated by the proliferation of data from millions of smartphones. Hia described AI as a double-edged sword, driving business profitability while posing risks to data security. In response, the Indian government is directing efforts to address these rising threats.

(With inputs from agencies.)