Indian smart manufacturing firms witness rise in cyber-attacks

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Indian smart manufacturing firms witness rise in cyber-attacks

Indian smart manufacturing firms witness rise in cyber-attacks

Industry News
Jul 04,24

One of the key factors contributing to poor security among Indian firms is the continued use of older platforms.

Indian smart manufacturing firms witness rise in cyber-attacks

As Indian firms increasingly deploy Internet of Things (IoT) technologies, smart sensors, mobility solutions, connected devices, and robots on their shop floors, they are becoming more vulnerable to sophisticated cyber-attacks. These attacks can result in financial losses, operational disruptions, and physical damage to systems.

A report from cybersecurity firm Fortinet revealed that over half (55%) of India's smart manufacturing firms experienced more than six cyber intrusions in the past year, a significant increase from 11% the previous year. This surge is attributed to the integration of operational technology (OT) and information technology (IT) networks, which has become a major concern for company executives.

OT systems, which manage industrial processes and equipment, are now interacting more with IT networks that handle big data, machine learning, machine-to-machine (M2M) communication, and IoT sensors. This convergence, aimed at leveraging emerging technologies in smart factories, also introduces various cybersecurity risks.

Santosh Jinugu, Cybersecurity Expert & Partner, Deloitte India, noted that while IT-OT integration offers several benefits, it also exposes companies to cyber-attacks such as ransomware and malware, intellectual property theft, security breaches involving third parties, and employee errors.

Vishak Raman, Vice President Sales- India SAARC, SEA & ANZ, Fortinet, highlighted that despite the increasing sophistication of threats, many organisations still have blind spots in their security environments. He pointed out that seven out of 10 CIOs/CTOs reported experiencing ransomware or wiper intrusions this year, nearly double the number from 2023, emphasising the need for better network visibility and detection capabilities.

Another report from cybersecurity firm Palo Alto Networks echoed these concerns, with 75% of manufacturing CIOs reporting at least one cyber-attack in the past year. Alarmingly, 63% of respondents faced attacks on a monthly or weekly basis.

Anil Valluri, MD & VP, Palo Alto Networks India & SAARC, stressed that cyber-attacks could shut down OT operations, with a quarter of Indian industrial entities halting operations due to successful intrusions.

Outdated platforms and supply chain vulnerabilities are significant contributors to poor security among Indian firms. Raman emphasised the importance of conducting vulnerability assessments and investing in comprehensive cybersecurity management programs that cover both IT and OT networks.

Jinugu advocated for a structured and strategic approach to addressing cybersecurity risks in smart factories. This includes conducting in-depth security assessments, implementing 24/7 monitoring through robust IT-OT security operations centers, establishing incident response and cyber crisis management plans, promoting awareness and training among OT specialists, and regularly testing the resilience of OT environments.

Governments in India and globally are increasingly recognising the importance of OT security. Partnerships in this field are crucial, with companies like Honeywell, Rockwell Automation, and Schneider collaborating with industry ecosystems to develop new technologies and enhance security capabilities to address the growing cybersecurity threats facing smart factories.

(Source: Techcircle)