‘Only 4% firms in India ready to tackle cybersecurity risks’

Kalyan Jewellers to enter U.S. in FY2025

Only 4% of firms in India have a ‘mature’ level of readiness needed to be resilient against modern cybersecurity risks, said Cisco in its ‘2023 Cybersecurity Readiness Index’.

Enterprises continue to be targeted with a variety of techniques that range from phishing and ransomware to supply chain and social engineering attacks, as per the index.

While they are building defenses against these attacks, they still struggle to defend against them, slowed down by their own overly complex security postures that are dominated by multiplepoint solutions, Cisco observed.

Readiness is critical as 82% of respondents said a cybersecurity incident is likely to disrupt their business in the next 12 to 24 months. Some 99% of the companies are getting ready to take action to address newer cyber challenges and they are also planning to increase their cybersecurity budgets in the next 12 months.

These data were found after a survey among more than 8,000 private sector security and business leaders across 30 global markets including India.

“In an era witnessing unprecedented proliferation of devices and rising AIpowered cyber attacks, it’s critical that organizations not only increase their investment in cybersecurity but also embrace an integrated platform approach to protect the five key pillars and take steps to reduce their security readiness gap,” said Samir Kumar Mishra, Director, Security Business, Cisco India and SAARC.

Kalyan Jewellers India Ltd. is gearing up to foray into the United States market in the coming financial year. The company plans to set up one store each in New Jersey and Chicago.

This is part of the company’s plans to open six jewellery showrooms in overseas markets and 130 outlets in India in FY25.

West Asia plans

Currently the company has 219 showrooms in India, and 34 more in West Asia. Four more would be added in this region in FY25.