Cybersecurity, IP Theft and Accidents Top Three Threats to Indian Industry, Survey Shows

Twelve key areas of concern for businesses and five emerging risks that might seriously damage India's business ecosystem were identified by the survey.

By Press Trust of India | Updated: 20 April 2023 17:21 IST

Cybersecurity, IP Theft and Accidents Top Three Threats to Indian Industry, Survey Shows

Photo Credit: Unsplash

The lowest risk is associated with terrorism and insurgency

Highlights

The annual survey aims to identify potential risks
‘Threat to women safety' risk has jumped from 12 in 2021 to 5 in 2022
The survey identifies 12 key areas of concern for businesses

Intellectual property theft, information and cyber security threats and accidents have been ranked as the top three threats in India by the industry in a risk survey, according to a FICCI report.

Also, 'threat to women safety' risk has jumped from 12th place in 2021 to 5th place in 2022 India Risk Survey, the report stated while urging companies to take measures to ensure the safety of their women employees. According to respodents, the lowest risk is associated with terrorism and insurgency, the report released on Wednesday said.

Among sectors, logistics and construction segments have highlighted accidents and intellectual property theft as major "risks" facing them.

Samsung Wins Patent for a Tri-Fold Smartphone With Specialised Barrier Layer for Improved Durability

"For the logistic sector, accidents are their second major concern as transportation is more prone to road accidents, while intellectual property theft has been placed at number one by the respondents. Likewise, the construction industry has voted accidents on the top position as the construction sites face a lot of challenges in combating accidents," the 'India Risk Survey' of FICCI said.

The survey identifies 12 key areas of concern for businesses and five emerging risks that might seriously damage India's business ecosystem.

The annual survey aims to identify potential risks in the context of a changing global environment, allowing business leaders to assess their circumspection for disruptive events like rapid digitalization, accidents, and business espionage, in the future and to ameliorate risk mitigation techniques.

Elon Musk Threatens Lawsuit After Microsoft Pulls Twitter From Ad Platform

India's retail industry ranked accidents, intellectual property theft and natural hazards as its prime issues.

The media and entertainment industry has marked information and cyber insecurity, business espionage and fire incidents as major threats.

For information & technology (IT) and manufacturing industry intellectual property theft is one of the top risks, while the consulting sector has placed business espionage in the second spot after cyber insecurity.

SpaceX Set to Make Second Attempt to Launch Starship Rocket Into Space

Other sectors which posed issues like accidents, intellectual property theft, business espionage among others as major risks are real estate, education, security services, financial services and hospitality.

Apple is opening its first stores in India, one in Mumbai and the other in Delhi. What does this mean for Apple customers in India? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.