A report by the cybersecurity company Palo Alto Networks found that between 2022 and 2023, the number of disruptive cyberattacks increased by more than 50% for 67% of the Indian government and 65% of the country's key service institutions.
The Indian Government, which provides essential services, has experienced a 50% increase in cyberattacks, according to a report.
The survey revealed that cyberattacks are very likely to target India's most crucial infrastructure, public sector, and basic services. India experienced the largest number of cyberattacks even though its budget for cybersecurity in 2023 increased by 75% from the previous year, one of the biggest increases in the Asia-Pacific region.
This cybersecurity firm conducted a survey to learn more about the state of cybersecurity in India. They solicited opinions from 200 IT professionals, including senior directors, C-suites, and decision-makers. The respondents to the study were from a variety of sectors, including manufacturing, banking, finance, utilities, telecommunications, and retail.
Which industry is hit the most?
The survey showed that 66% of the manufacturing companies in India were more at risk of IoT devices connecting to the network without security measures, which is more than any other industry.
The survey also found that 83% of companies in the transportation and logistics industry view their risk levels as being very high or high.
While an impressive 95% of Indian businesses claim to be actively moving toward a more automated security stack, 48% of businesses in the public, transportation, and logistics sectors and 50% of businesses in the manufacturing sector predict that the adoption of 5G will increase weaknesses in security.
More than 34% of banks and financial institutions nationwide predicted that the cloud assaults would hurt their bottom line. Due to their growing reliance on cloud services and apps, 69% of telecommunications companies claimed they were vulnerable to new threats.
"Securing ESS networks is essential for safeguarding important facilities and ensuring continuity of essential services, protecting public security and national stability," said Anil Valluri, Managing Director and Regional Vice President of India & SAARC at Palo Alto Networks. According to our data, the public, manufacturing, and transportation sectors have been the targets of the most sophisticated attacks.
Business cybersecurity risks:
The largest number in APAC, according to the survey, of disruptive attacks increased by more than 50% for 45% of Indian organizations. Compared to the typical company in APAC (29%), around 35% of Indian organizations are more concerned about social engineering assaults.
Additionally, 57% of telecom businesses are most concerned with ransomware, while 60% of organizations are most concerned with malware (ransomware, spyware, and adware) attacks.
