High Time For Indian Industries To Tackle Cyber Breaches
With the 49% of Indian industrial companies into oil & gas, petrochemicals, pharmaceuticals and utilities have said cyber breaches have had a reputational impact on their business. A similar number said, they had to suspend operations for a period of time. A report from Honeywell India says, by surveying surveyed 252 decision-makers from such industries on the nature of cyber security threats they face and their approach in dealing with them.
There were multiple cybersecurity breaches happened in the previous year in India ,where there were multiple operations were suspended for a period of time after they suffered a cybersecurity breach Budget allocated in the past year for staffing and technology allocated to cybersecurity, on average, in the past year Expected increase in cybersecurity budget, on average, within the next 5 years Next steps to improve industrial cybersecurity maturity at it alone, engage with highly experienced experts to develop a safe, appropriate industrial cybersecurity stratergy that does not adversely impacted the operations.
As earlier reported by Honeywell, it sees growth in two key segments in India such as, Smart Cities and Digitisation, said Terrence Hahn, CEO, of Honeywell’s Home and Building Technologies (HBT) business.
“We are building the ability to develop solutions locally for local applications and then be able to grow,” Hahn said. The company is focussed on serving the midmarket segment and is reorienting its product portfolio to suit the conditions in the subcontinent. “As a global company, we want to be supportive to driving growth. As the urban population continues to grow, we are excited about opportunities in India.