Businesses in India spend 11% of tech budgets on cybersecurity

india businesses

New Delhi: Businesses in India are increasingly prioritising cybersecurity budgets and relying on threat hunting to beef up cybersecurity defences, as per a new report from cybersecurity firm Sophos.

Cybersecurity – gets a bigger pie in technology budgets

In 2022, 11% of technology budgets across businesses in India are dedicated to cybersecurity, revealed Sophos’ newly published report The Future of Cybersecurity in Asia Pacific and Japan, in collaboration with Tech Research Asia (TRA).

Threat hunting – a priority for most organisations

For businesses in India, threat hunting has become a key consideration for strengthening cybersecurity defences. Most organisations (95%) undertook threat hunting to bolster their cybersecurity capabilities in 2021.

Among them, 85% of businesses stated the approach is critical or important to their company’s overall cybersecurity capabilities.

“It’s great to see organisations taking cybersecurity more seriously, with budgets and maturity levels on the rise and organisations looking to build threat hunting into their cyber defence strategies,” said Aaron Bugal, Sophos’ Global Solutions Engineer.

“Given that threat hunting has become a priority for the majority of organisations, it’s interesting to see that cybersecurity professionals across APJ rank ‘not being able to keep up with the pace of threats’ in their top five frustrations in 2022, as indicated in the survey,” added Bugal.

Investment, threat hunting solutions – by no means end of cyberattacks

Although, businesses in India are increasing investments in cybersecurity and adopting threat-hunting solutions as part of cybersecurity defences. But that won’t reduce cyberattacks according to Bugal.

“Even with the additional investment, organisations need to ensure they are not overstating their maturity levels and the implementation of threat hunting solutions, leading to complacency,” explained Bugal.

With increased maturity and investment, Bugal pointed out that one would think successful cyberattacks would decline, however they continue to wreak havoc.

Ransomware hit 78% of Indian organisations in 2021, up from 68% in 2020, according to Sophos’ State of Ransomware Report. With this in mind, it’s important for organisations to review their cyber strategies regularly and address the gaps.

The approach is key to fighting cyberattacks

43% of Indian companies surveyed haven’t made a change to their information or cybersecurity approach in the last 12 months. And that’s a passive attitude to cybersecurity, which must be addressed as a priority.

Organisations must be active in their approach to combatting cyberattacks, with threat hunting functioning as an always-on activity and not a once or twice a year exercise, pointed Bugal.

“Organisations must constantly be on the front-foot to identify and thwart attacks, and regular and consistent threat hunting is key to this; failure to do so means organisations will remain vulnerable,” concluded Bugal.

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