The Cisco Cybersecurity Readiness Index 2024 findings indicate that a mere 4% of Indian organisations are prepared to confront contemporary cybersecurity threats, in contrast to a global figure of 3%. Furthermore, 59% of these organisations are still in their initial stages of readiness.
Despite the increasingly interconnected and rapidly evolving threat landscape, only a tiny fraction of Indian organisations, as highlighted in the 2024 Cisco Cybersecurity Readiness Index, possess the readiness necessary to combat modern cybersecurity risks, in contrast to the global figure of 3%. However, most, accounting for 59% of these organisations, remain at the beginner or formative stages of readiness.
Alarmingly, 82% of respondents anticipate a cybersecurity incident disrupting their business within the next 12 to 24 months. The repercussions of being ill-prepared are substantial, as evidenced by 74% of respondents experiencing a cybersecurity incident in the past year, with 55% of those affected reporting costs exceeding $300,000.
While more companies strive to fortify themselves against these threats, many need help due to their complex security infrastructures dominated by numerous standalone solutions. Nonetheless, 88% of companies express moderate to high confidence in their ability to withstand a cyberattack using their current infrastructure.
This discrepancy between confidence and readiness underscores the risk of misplaced trust in navigating the threat landscape without adequately assessing the challenges. Jeetu Patel, Executive Vice President and General Manager of Security and Collaboration at Cisco, emphasises prioritising investments in integrated platforms and leveraging AI to operate at a machine scale.
Compounding the issue are unsecured and unmanaged devices used by employees, acknowledged by 92% of companies. Additionally, critical talent shortages further hinder readiness, with 91% of companies citing it as a significant issue and 59% reporting more than ten unfilled cybersecurity roles.
Despite these challenges, companies are proactively enhancing their defences, with 71% planning substantial upgrades to their IT infrastructure within the next 12 to 24 months—a notable increase from last year’s 51%. The focus areas for these upgrades include enhancing existing solutions, deploying new ones, and investing in AI-driven technologies.
The Index evaluates companies’ readiness across five key pillars—Identity Intelligence, Network Resilience, Machine Trustworthiness, Cloud Reinforcement, and AI Fortification—comprising 31 corresponding solutions and capabilities. Conducted through a double-anonymized survey of over 8,000 private sector security and business leaders across 30 global markets, the Index sheds light on cybersecurity readiness in today’s business landscape.
