India’s Cybersecurity Preparedness: A Stark Reality Check by Cisco’s Index

Only 4% of Indian Companies Equipped to Combat Modern Cyber Threats, Reveals Cisco’s Cybersecurity Readiness Index 2024

Amidst the ever-evolving threat landscape, Cisco’s Cybersecurity Readiness Index 2024 sheds light on a concerning reality: merely 4% of organizations in India possess the necessary readiness to confront contemporary cybersecurity risks, while a staggering 59% remain at nascent stages of preparedness.

Key Findings from Cisco’s Cybersecurity Readiness Index 2024:

  1. Lack of Preparedness:
    • Only 4% of Indian organizations demonstrate readiness against modern cybersecurity risks, highlighting a significant disparity between confidence and actual preparedness.
    • Despite the looming threat landscape, 59% of companies are categorized as beginners or in formative stages of readiness.
  2. Impact of Cyber Incidents:
    • 82% of respondents anticipate a cybersecurity incident disrupting their business in the next 12 to 24 months.
    • A striking 74% of organizations experienced a cybersecurity incident in the last year, with 55% reporting costs exceeding $300,000.
  3. Overconfidence vs. Reality:
    • Despite the prevalent challenges, 88% of companies express moderate to high confidence in their ability to defend against cyberattacks with existing infrastructure.
    • This discrepancy suggests a potential overestimation of preparedness levels and a lack of proper assessment of the threat landscape.
  4. Talent Shortages and Device Security:
    • 91% of organizations grapple with critical talent shortages in cybersecurity roles.
    • A concerning 92% acknowledge the use of unsecured and unmanaged devices by employees, exacerbating cybersecurity vulnerabilities.
  5. Investment and Upgrades:
    • Despite challenges, 71% of companies plan significant IT infrastructure upgrades in the next 12 to 24 months.
    • Investments in AI-driven technologies (60%), new solutions deployment (58%), and existing solution upgrades (70%) are prioritized.
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