India Inc yet to wake up to terror threat

Corporate India appears largely unprepared to cope with terrorist attacks or to face any unconventional threat,if a recent study by a well-known consultancy firm is any indication.

Written by Mohana Dam | Kolkata | Published:January 22, 2009 2:32 am

Corporate India appears largely unprepared to cope with terrorist attacks or to face any unconventional threat,if a recent study by a well-known consultancy firm is any indication. The forensic services practice wing of the KPMG,a multi-national consultancy firm,carried out the study,which reveals a state of non-preparedness in the corporate sector.

The study was initiated after a report of the Institute of Defence Studies and Analysis of India showed that since 2006,the country had witnessed over 70 attacks,the latest being the November 26 terror strikes in Mumbai,resulting in loss of over $800 million.

The study covered nearly 60 companies in the country from various sectors where the majority has an annual turnover of over $150 million. The study shows gaping holes in the security environment and security infrastructure of most of these companies in the private sector.

“We started this survey in December 2008 to check the level of preparedness of the Corporate India against terror threats. We have been presenting it at different industry forums where there are government initiatives as well,” said Rohit Mahajan,executive director,forensic services,KPMG India.

While threat analysis,including the study of the location before setting up establishments,is important in today’s scenario,more than half of the respondents (53 per cent) did not conduct such threat analysis,says the report.

Only one-fifth of the respondents had conducted such a threat analysis,the majority being banks,hotels,healthcare firms and infrastructure companies.

The preparedness to threats was also found to be drastically low with only about 24 per cent of the respondents having a comprehensive response plan while 49 per cent of respondents had generic security response plans for their organisation and 27 per cent had no plans at all.

To make matters worse,49 per cent of respondents said even if a company has such plans,they were only documented and neither were the employees aware nor regular trainings were conducted.

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