CYBERSECURITY BUDGET INCREASE
93% of Indian executives anticipate cyberbudget increase in 2025: report
93% of Indian executives plan to increase their cybersecurity budgets in 2025, with 17% expecting increments of 15% or more, a 1% rise from last year. This underscores the critical importance of cybersecurity, which 61 % of executives identified as their top risk mitigation priority, surpassing digital risks (60%), inflation (48%), and environmental risks (30%).
84% of Indian stockbrokers to increase tech spending on AI, algo trading: Report
Nearly 84% of Indian stockbrokers plan to increase IT budgets in 2024-25, with a focus on AI, machine learning, and other emerging technologies. This reflects the industry's growing focus on adopting transformative technologies to enhance efficiency and scalability.
93 pc of Indian execs surveyed see cyber-budget increase next year: PWC report
A new PwC India report reveals that 93% of Indian executives plan to increase their cybersecurity budgets next year. Cybersecurity is the top risk mitigation priority, driven by recent breaches and new regulations. Cloud-related threats are a major concern, but many feel unprepared to address them.
Cybersecurity in healthcare to grow from reactive to proactive measures
A study by Sophos said that in 2023, on a global level, around 60% of healthcare organisations organisations suffered a cyber attack. As per a Deloitte India analysis, in the coming two years, proactive cybersecurity will increase up to 12-15% in order to prevent such crimes.
IT spending to rise by 11.2% in 2025; higher impact on jobs
The IT spending shrunk by 0.5% to $112.56 billion in 2023 while it grew 10.7% to $124.61 billion in 2024. The software spending is estimated to record the highest annual growth rate of 17% in 2025 while data centres systems and devices may see a slower growth.
Increasingly complex threat landscape tops reasons for stress among cybersecurity professionals, finds survey
According to the data from Indian cybersecurity professionals, the top reasons for increased stress include an increasingly complex threat landscape (87%), insufficiently trained staff (54%), worsening hiring and retention challenges (53%), lack of prioritisation of cybersecurity risks (44%) and low budget (40%).
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Rate cuts in Europe keep Indian IT sector's hopes up
While industry analysts foresee this as a tailwind along with the ongoing digital adoption by enterprises, they said the impact on the industry may be felt only by the fourth quarter of this fiscal ending March 2025.
Nearly six in 10 companies have boosted L&D budget: Report
In FY24, Indian companies emphasized training in AI, ML, data science, and data engineering, with 76.6% prioritizing these skills. Great Learning¡¯s report noted reduced hiring costs and increased L&D budgets. Major investments were seen in the IT sector, with a focus on cybersecurity and cloud computing, underscoring their critical importance to businesses.
Nearly 92% of Indian SaaS cos adopted AI in 12 months: Bessemer
AI adoption by SaaS platforms helps make software more intuitive, adaptive, and capable of automating complex tasks. The report titled ¡®The Rise of SaaS in India 2024¡¯ which surveyed around 100 SaaS startups with ARR) ranging from $3 to $200 million, said Indian SaaS centaurs and unicorns will generate $20 to $25 billion in revenue by 2030.
Payment firms¡¯ budget grouse; Nithin Kamath on the budget
The cut in budgetary allocation to incentivise digital payments has come as a dampener for payment startups. This and more in today's ETtech Top 5.
Budget 2024: From skilling to logistics, industry expects significant announcements from FM
The industry expects the finance minister to focus heavily on economic growth, providing a significant boost to entrepreneurship and ironing out challenges on the path to growth.
Economic Survey 2024 Highlights: Steady Indian Economy, 6.5% to 7% GDP growth, infra boost and more
Economic Survey 2024 Highlights: The Economic Survey 2023-24, tabled by Finance Minister Nirmala Sitharaman, highlights India's economic resilience despite global uncertainties. The report emphasizes sustained post-Covid recovery, stable inflation, and a positive investment climate driven by public and private sectors. The survey calls for continued domestic efforts to maintain growth and highlights the importance of a tripartite compact involving the government, private sector, and public. With the upcoming budget, Sitharaman will surpass the record for the most budget presentations by a finance minister.
Budget 2024: The approach needed around infrastructure, health, and renewable energy
By addressing the critical needs of sectors such as renewable energy, infrastructure, health, and health tech, the budget can lay down a path for sustainable and inclusive development.
Malicious actors trying to exploit global tech outage for their own gain
Government cybersecurity agencies across the globe and CrowdStrike CEO George Kurtz are warning businesses and individuals about new phishing schemes that involve malicious actors posing as CrowdStrike employees or other tech specialists offering to assist those recovering from the outage.
Navigating Union Budget impact: Opportunities amidst overheated market
Coalition politics often requires a delicate balancing act, with the government catering to diverse interests. This could lead to a more populist Budget aimed at appealing to a wider range of voters. However, considering the Modi government's history of implementing bold reforms, we might see a mixed approach that combines populist measures with continued reform initiatives.
The road to a $1 trillion digital economy: A tech lawyer¡¯s wish-list for Budget 2024-25
The post-election budget is expected to support digital public infra (Aadhaar, UPI, DigiLocker), UPI and RuPay incentives, tech manufacturing, cybersecurity, AI, deep tech in healthcare and agriculture, and skilling initiatives under the Skill India Mission. Expanding the PLI scheme, AI research, R&D, the National Quantum Mission, and extending optical fibre to all villages will be crucial.
Hacker Alert! Over 80% of Indian firms expect cybersecurity incident in 2 years
??The 2024 Cisco Cybersecurity Readiness Index, which was released on Thursday, found that only 4% of companies in India are ready to tackle today's threats, with 59% of organisations falling into the "beginner or formative stages of readiness".
From Generative AI to sustainability, how stakeholders can navigate supply chain disruptions in 2024
As data generation accelerates, with millions of dynamic datasets proliferating across the supply chain landscape, data criticality has never been more pronounced.
Fortinet beats Q4 profit on cybersecurity demand, shares jump
Fortinet, although a smaller peer amongst bigger names such as Palo Alto, boasts of a diversified portfolio of solutions that has helped it attract a sizeable customer base.
Budget 2024: FM proposes 71% increase in outlay for chip, electronics manufacturing
In this year's interim budget, the finance minister proposed a 71.4% increase in allocation for a major expansion in chip and electronics manufacturing to Rs 13,104.50 crore.
Budget speech mention of deeptech leaves industry wanting more
Industry participants, investors and founders alike, expressed enthusiasm for the potential scheme¡¯s push to the deeptech startup ecosystem that has seen the likes of Ideaforge, Tonbo Imaging and PierSight ¨C across stages of maturity that have defence-led applications.
What Budget 2024 can do to strengthen the cybersecurity sector in India
The budget is poised to play a pivotal role in shaping India¡¯s economic growth and global competitiveness, particularly in the realm of cybersecurity.
Cyber insurance gains momentum in India; set to witness exponential growth: Deloitte
A report by Deloitte predicts that the cyber insurance market in India will grow by 27-30% in the coming years. The current market is valued at $50-60 million and has maintained a steady compound annual growth rate (CAGR) of 27-30% over the past three years. The growth is expected to continue due to increased awareness of the need for cyber insurance. Industries heavily involved in digitization, such as IT, pharma, and manufacturing, are identified as prime targets for cybercriminals and are early adopters of cyber insurance.
Hackers coming for Indian firms as fintech rises
India saw a 75% increase in cybersecurity budget allocation for 2023 compared with the previous year, marking it one of the highest increases in the APAC region.
Companies play catch-up as cybersecurity attacks rise in digital India
Attacks have spiked significantly in the past six months, said Amit Pradhan, India consulting leader for the cybersecurity firm Mandiant, which is owned by Alphabet Inc.¡¯s Google Cloud.
On 24% of firms surveyed in India ready to defend cybersecurity threats: Cisco study
Underlining that readiness is critical, the Cisco study revealed that 90% respondents said they expect a cybersecurity incident to disrupt their business in the next 12 to 24 months.
Over 65% of business executives in India foresee an increase in cybersecurity budgets in 2023: PwC survey
About 50% of Indian enterprises believe they have fully mitigated their cybersecurity risk exposure in a number of critical areas, according to PwC Global Digital Trust Insights - India edition.
Organizations need to maintain a strong security posture in 2022 and beyond
Technology providers must become more proficient at developing intrinsically more secure and resilient technology, designed with the foresight on how these devices will connect into networks that are likely crawling with hackers.
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