According to the new report by FICCI, 'Information and Cyber Insecurity as the most significant threat to business perception and operations in the country.
The report says that in the recent past, there has been an increase in incidences of cyber-attacks and potential espionage on cyber-security.
'Information & Cyber Insecurity' has become more pronounced due to the shift that the nation is undergoing towards digitization of various assets and services being delivered via the internet and mobile platforms, and the ever-present loopholes that hackers breach upon," said Ficci-Pinkerton India Risk Survey 2017.
It added that the WannaCry malware incident has been, by far, the worst incident this year in which several systems were attacked, both of the public and the private sectors. The focus should be to create robust security mechanism to address cyber-security challenges.
As per the report, the most grievous risk to business operations in India was 'Corruption, Bribery and Corporate Frauds'.
"There is an overall sense of lowering corruption via regulations such as GST, demonetisation, Make in India, the Digital India Program. However, the nature of corruption is such that it refuses to be completely removed," the report said.