A majority of the respondents felt that the industry is not fully equipped to promptly respond to natural disasters such as floods and earthquakes, according to the survey conducted by PwC India and American Society for Industrial Security (ASIS).
However, many organisations have woken up to the implications of physical security over the past few years and there has been a conscious effort to ensure better safety arrangements, a statement from PwC said.
"Over the past few years, corporate India has witnessed a steady increase in the number of physical security threats and breaches. While we have very little control over occurrences such as floods, earthquakes and terror attacks, we do have control over the ways we can safeguard our businesses and people against them," said Dinesh Anand, Partner and Leader-Forensic Services India.
The report suggests that it is critical for security professionals and management to be aligned and work together to identify potential strategic security threats and prepare a plan for resilience and sustenance of their business.
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Anand further said the Private Security Agencies (Regulation) (PSAR) Act, 2005 also needs to be reviewed.
The report added that cybercrime and corporate espionage have been rated as two of the most serious threats to organisations in the coming years.
This indicates the need for stronger collaboration between the domains of cyber security and physical security on account of inter-linkages between the information and physical world, it added.