Indian Businesses Urged to Align Cybersecurity Budgets with Growth Objectives: Kaspersky

According to a report by SonicWall, malware attacks in India surged by 11% in 2024, totaling over 1.3 million incidents

Indian businesses must align their cybersecurity investments with growth objectives to ensure sustainable expansion in an increasingly digital landscape, according to Kaspersky. As companies embrace new-age technologies like artificial intelligence (AI) and generative AI (GenAI) to drive growth, they also face heightened cybersecurity risks, warns Adrian Hia, Managing Director for the APAC region at Kaspersky.

Hia emphasized that digitalization is essential for business growth, but it simultaneously expands the attack surface, exposing organizations to more sophisticated cyber threats. He suggests that if Indian companies aim for a 20% growth, they should proportionally increase their cybersecurity budgets by the same margin to adequately prepare for potential cyberattacks. Recent data underscores the urgency of this alignment. According to a report by SonicWall, malware attacks in India surged by 11% in 2024, totaling over 1.3 million incidents. Furthermore, Kaspersky noted that ransomware accounted for a third of all cyber incidents in 2023, with the growing volume of exposed data contributing to the increase in attacks. The widespread use of smartphones, with an estimated 3 billion devices in India, has significantly expanded the attack surface. Despite the risks, businesses are compelled to adopt cutting-edge technologies to stay competitive.

Hia highlights AI's dual nature, serving as both a business enabler and a potential vulnerability. As companies forge ahead with digital transformation, the Indian government is also stepping up efforts to enhance cybersecurity frameworks, aiming to mitigate the risks associated with rapid technological adoption.