Question: What is the rank of India in GDPR Readiness Index of CISCO?
(a) 4th
(b) 5th
(c) 6th
(d) 7th
Answer: (c)
Related facts:
- India is ranked sixth in the General Data Protection Regulation (GDPR) Readiness Index of global networking leader Cisco on January 25, 2019.
- Around 65% of the organisations of India are better prepared for the General Data Protection Regulation (GDPR) of European Union.
- Cisco mentioned significant improvement in the GDPR of India with its fast evolving data privacy ecosystem.
Report and its Findings:
- The GDPR focuses on increasing privacy and personal data of EU residents. This came into force in May last year since when the organisation is working on this. The survey was conducted among more than 3,200 global security and privacy professionals in 18 countries.
- Around 75% of respondents expressed the multiple broader benefits from their privacy investments, which include greater agility and innovation resulting from having appropriate data controls, gaining competitive advantage and improved operational efficiency from having data organized and catalogued.
- Only 37 per cent of GDPR-ready companies experienced a data breach costing more than $500,000, compared with 64 per cent of the least GDPR-ready companies.
- GDPR-ready companies are benefitting from their privacy investments beyond compliance in a number of tangible ways. They had shorter sales delays due to customer’s privacy concerns (3.4 weeks vs. 5.4 weeks).
- They were less likely to have experienced a breach in the last year (74% vs. 89%), and when a breach occurred, fewer data records were impacted (79k vs. 212k records) and system downtime was shorter (6.4 hours vs. 9.4 hours).
- Sales delays due to customer data privacy concerns continue to be an issue for most organizations. 87% reported they have delays in selling to existing customers or prospects, which is up significantly.
- These results highlight that privacy maturity has become an important competitive advantage for many companies. Organizations should work to maximize the business benefits of their privacy investments, which may go beyond the requirements of any particular privacy regulation.
Himanshu Shukla
Links:
https://www.cisco.com/c/dam/en_us/about/doing_business/trust-center/docs/dpbs-2019.pdf
https://www.business-standard.com/article/news-ians/india-6th-in-gdpr-readiness-index-cisco-119012501136_1.html