What Are the Future Business Risks for Indian Firms by 2028 Related to AI and Climate Change?
Synopsis
A new report reveals that Indian businesses see cyber threats as a top concern, with AI and climate change looming on the horizon by 2028. As firms navigate these challenges, they demonstrate resilience through innovative risk management strategies.
Key Takeaways
Cybersecurity remains the primary concern for Indian firms.
AI and climate change are projected to be critical risks by 2028.
70% of companies have established dedicated risk management teams.
92.9% of firms have formal plans to handle cyber threats.
India is becoming a major player in the global cybersecurity landscape.
New Delhi, Nov 19 (NationPress) A recent report highlights that Indian enterprises have identified cyber attacks or data breaches as their most pressing business risk, while forecasting AI and climate change as significant threats by 2028.
Challenges related to attracting and retaining talent endure, while issues like property damage and currency fluctuations are notably more severe in India compared to the broader Asian context, according to the insights from global professional services firm Aon.
“Indian companies are exhibiting extraordinary adaptability amidst digital transformation, talent mobility, and geopolitical changes,” stated Rishi Mehra, CEO of Aon India.
Moreover, the survey revealed that 77.8% of Indian firms experienced losses due to property damage, while 46.2% faced business interruptions, and 63.6% were affected by fluctuations in currency exchange rates.
Furthermore, almost half of the respondents reported losses linked to talent-related challenges and cash flow or liquidity risks, as detailed in the report.
Risk management strategies are becoming more formalized, with 70% of respondents establishing specialized risk and insurance teams, and 64.9% measuring the overall cost of insurable risks, based on a biennial survey involving nearly 3,000 risk managers and executives across 63 nations.
Mitigation strategies are also solid, with 92.9% of firms having contingency plans and formal assessments for cyber threats, 90.9% for property damage, and 55% addressing talent retention issues.
India is rapidly positioning itself as a global cybersecurity center, supported by over 400 startups and a skilled workforce exceeding 650,000 professionals, contributing to a $20 billion cybersecurity industry, according to the IT Ministry.
The CERT-In initiative is actively developing a strong and reliable cyber defense framework that aligns with the Digital India vision through various research collaborations, public-private partnerships, and involvement in international platforms.
Point of View
It is clear that Indian firms are not just surviving but thriving amidst challenges. The proactive approach towards risk management and the emergence of a robust cybersecurity industry are commendable. This places India on a promising trajectory for future business stability and growth.
NationPress
9 May 2026
Frequently Asked Questions
What are the top business risks identified by Indian firms?
Indian firms identified cyber attacks and data breaches as the top business risks, with AI and climate change anticipated as future threats by 2028.
How are Indian companies addressing these risks?
Companies are formalizing risk management strategies, with many establishing dedicated teams and implementing comprehensive mitigation plans for cyber threats and property damage.
What role does talent retention play in business risks?
Talent challenges have resulted in significant losses for nearly half of the surveyed firms, highlighting the importance of effective talent retention strategies.
