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Indian companies will continue to see higher IT security budgets: PwC

December 07, 2012

Indian companies will continue to see hi...

PricewaterhouseCoopers (PwC) has released the research findings of the State of Information Security Survey - India, 2013.

The report is based on an analysis of responses from 738 respondents from 17 industries across the country. It is the fifth edition of the survey. The survey was conducted online through a structured questionnaire.

The survey report says that about 75 per cent of respondents from India, as compared to 45 per cent of global respondents expect an increase in information security spending. Consequently, with rise in spending, project deferrals are decreasing and overall project budgets are protected.

The survey reveals that about 60 per cent of respondents are of the view that information security linked operational and capital expenditures have not witnessed any deferrals in their organisations. Almost 85 per cent of respondents claimed a strong alignment of their security strategy with their business objectives. The survey findings report a lag in the security strategy around new technologies including mobile devices, cloud and social media, the study. While reported security incidents have increased three-fold in India, financial losses due to security breaches have decreased significantly. Yet, data collected through the survey indicates that the respondents do not measure losses completely.

The survey indicates that the technology adoption is moving faster than security implementation for new technologies. According to survey, just 46 per cent of respondents claim to have a mobile security strategy, while 31 per cent had strategies for the cloud and 37 per cent for social media indicating lag in adoption rates.

The report says that while financial services companies are striving to maintain leadership in information security practices, telecom, information communications and entertainment companies are gaining ground especially leading in information security strategies for new technologies. The information communications and entertainment companies are leading in mobile, social media and cloud computing. Consumer, industrial products and services too are improving their information security capabilities.

As per the survey findings, Indian organisations continue to be optimistic about improving their overall security environment through effective strategy and activities. However, the report says that gaps in implementation of information security technology and policy are an area of concern which needs to be addressed by corporate India.

The report is based on an analysis of responses from 738 respondents from 17 industries across the country. It was the fifth edition and the survey was conducted online through a structured questionnaire.



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