Cybersecurity Skills Gap in India: 92% of Firms Affected by Breaches

India's cybersecurity landscape faces a critical threat, with a widening skills gap leaving networks increasingly vulnerable to breaches. The urgency of this issue is underscored by Fortinet's 2024 Global Cybersecurity Skills Gap Report, which reveals that 92% of Indian organisations reported experiencing breaches over the past year, with many attributing these incidents to a shortage of qualified cybersecurity professionals.

92% of Indian organisations faced breaches due to a lack of qualified cybersecurity professionals.

The financial and reputational toll of these breaches is escalating, with 66% of respondents reporting losses exceeding USD 1 million due to cyberattacks—an alarming rise from 43% last year. Corporate accountability is also rising, with 82% of Indian companies noting that executives have faced severe penalties, including fines and job loss, following a breach.

66% of Indian companies reported losses exceeding USD 1 million from cyberattacks, up from 43% last year.

Boards of directors are responding to this increased pressure by prioritising cybersecurity as a business imperative. A striking 98% of respondents indicated that their boards now view cybersecurity as a top priority, with 80% noting a heightened focus compared to the previous year.

82% of executives in India faced severe penalties, including job loss, due to breaches.

Certification is a Crucial Defence

As businesses scramble to close the skills gap, certification is emerging as a critical solution. The report found that 100% of Indian employers prefer hiring candidates with certifications, which are vital for validating cybersecurity expertise. Furthermore, 92% of organisations are willing to fund these certifications to strengthen their network defences.

Certification on the Rise: 100% of Indian employers prefer certified candidates; 92% are willing to fund certifications.

Many organisations are expanding their recruitment strategies to include candidates from diverse backgrounds in response to the skills shortage. However, despite setting diversity hiring goals, the report notes a decline in female hires, dropping to 90% in 2023 from 94% in 2022, signalling ongoing challenges in achieving true diversity in the cybersecurity workforce.

Despite efforts, female hires in cybersecurity declined to 90% in 2023, down from 94% in 2022.

The Fortinet report indicates that organisations are adopting a three-pronged approach to combating these growing threats. First, they are investing in training and certifications for their IT teams. Second, they are fostering cyber awareness among all employees. Third, they are deploying robust security technologies.

The report underscores the urgent need for Indian companies to address the cybersecurity skills gap to protect their networks and mitigate the rising cyberattack risks.