India raises its security budget

Indian companies are increasing their IT security budgets for 2010 following rapid growth upon clawing its way out of the recession. 

In its 2010 Global Security Survey — India Report,  Deloitte said 10 percent of the 62 respondents had increased their IT security budgets by more than 10 percent. And 57 percent increased their budgets by up to 10 percent.
It added that although 48 percent of organisations in India believed they were “on plan” in dealing with security threats, 44 percent still believed that they were fighting against security threats.

Deloitte added in its report that almost half of Indian respondents experienced at least one internal security breach during the past year in their organisations. Almost 32 percent of these said that they believed that their information security professionals lacked the competence to handle existing and foreseeable security requirements.

Third-party and vendor-security capabilities are also still doubted by a majority of organisations in India. Only 23 percent of the respondents were “very comfortable” with the IT security practices of their vendors.