According to a study, incidents of data breaches, severe weather events, and large-scale cyber-attacks are some of the evolving risks that are most likely to affect the business environment in the country. Additionally, Marsh, a global leader in insurance broking and risk management society in RIMS, studied that the inter-connected dynamics of geopolitics, global economic integration, technological advances, and climate change mean that the demonstration of one risk is increasing and is likely to impact others.
Across 19 industries, there was a survey that covered the representatives of C-Suites, executives and risk professionals. It noted that around 88 percent of respondents recognized cyber-attacks as the highest risk. This was trailed by theft or data fraud that was cited by 85 percent of respondents, impulsive weather (84 percent), unembellished energy price shock (81 percent) and foremost monetary catastrophe (81 percent) among the added top risks for India Inc. The other risks that were recognized, comprises of financial disasters in significant economies (80 percent), water heads (76 percent), shortage of perilous organization (76 percent), failure of urban planning (72 percent) and the letdown of national governance (72 percent).
This intelligent assessment additionally noted that a severe energy price shock arisen as the most momentous apprehension (63 percent) among current risks, followed by deflation in a chief economy (53 percent) in 1-3 years. In addition, there was a risk of enormous spread of contagious diseases (59 percent) after a period of 3 years. This alarm was on an account of India’s escalating population, rapid urbanization, and swelling human mobility.