2026年风险展望：印度企业风险格局导航报告（英文版）-

Riskoutlook-

Acompassto

India’srisklandscape

FICCI-EYRiskSurvey2026

February2026

ForewordEY

Theresilienceblueprint:

SteeringIndianenterprisesthroughnewagerisks

Inaneradefinedbyrapidtransformationanduncertainty,Indianenterprisesare

calledupontoredefinetheirapproach

toriskandresilience.Iampleasedto

presentthe“FICCI-EYRiskSurvey2026:

Riskoutlook–AcompasstoIndia’srisk

landscape”forIndianbusinesses.This

year’sinsightscomeatadefiningpoint

inIndia’seconomictrajectory.Withthe

economyprojectedtogrowat7.4%in

2025–26,supportedbystrongdomestic

consumptionandcontinuedcapital

investment,Indiastandsoutasoneoftheworld’smostdynamicandrobustmarkets.

Thismomentumis,however,unfoldingagainstariskenvironmentthatis

morecomplexandinterconnectedthan

ever.Organizationsarenavigating

anenvironmentshapedbypersistent

disruption,rapidtechnologicalshifts

andgeopoliticaluncertainty.Boundaries

betweenstrategic,operational,financial

andtechnologyriskshavelargelydissolved.Externalshocksandinternalvulnerabilitiesnowinteractatspeed,alteringenterprise

exposureinwaysthatdemandsharper

visibilityandfasterdecisions.Inthis

dynamicenvironment,theabilitytoforeseeandswiftlyadapttoemergingthreatshas

becomenotjustacompetitiveadvantage,butanecessityforsurvival.

India’spositionwithinglobalsupplynetworksintroducesfurtherlayersofvulnerability.Heavydependenceonimportedcapitalgoods,technology

componentsandenergyinputsincreasessensitivitytosupplybottlenecks,pricevolatilityandtradepolicyshifts.Thesedynamicsrequirebusinessestostrengthenecosystem

intelligenceandbuildadaptabilityacrosstheirvaluechains.

Atthesametime,theglobalgeopoliticalbackdropremainsfluid.Changingtariffregimes,

energyrealignmentsandshiftsinglobalalliancesareinfluencingtradeflowsand

coststructures,compressingplanningcyclesandincreasingoperationaluncertainty.

Organizationsmustmovefromperiodicriskassessmentstocontinuoussensing,analyticalforesightandscenariodrivenaction.Collaborationacrossindustriesandwithpolicymakerswillbecentraltodevelopingagileriskoversightstrategiesandsustaininglong-termgrowth.

Newagerisksarealsoreshapingenterprisepriorities.Cyberthreatscontinueto

escalateinsophistication,whiletherapidinfusionofAIacrossoperationsintroduces

newgovernance,ethicalandsecurityconsiderations.Climaterelateddisruptions,which

wereonceconsideredaslonghorizonconcerns,arenowinfluencingstrategicchoices,

capitalallocationandregulatoryexpectations.Collectively,theseriskscutacrossdigital

infrastructure,dataenvironments,thirdpartyrelationshipsandboardleveldecision

making,underscoringtheneedforintegrated,technologyenabledsafeguards.Proactive

adaptationandinvestmentintechnology-drivensolutionswillempowerorganisationstonotonlywithstandbutthriveamidstuncertainty.

The2026surveysendsaclearsignal.Indianbusinessesareconfidentinthenation’s

growthtrajectory,buttheyalsorecognizethattheirsuccesswilldependontheircapacitytoanticipateandrespondtofuturechallengesinaproactivemanner.ThosethatdosowillleadIndia’snextdecadeofgrowthwithclarityandconviction.Together,letusembrace

thisjourneyoftransformation,fosteringaculturewhereresilienceandforesightformthebedrockofoursharedsuccess.

RohanSachdev

IndiaConsultingLeaderandPartner,EYIndia

SudhakarRajendran

RiskConsultingLeaderandPartner,EYIndia

ForewordFICCI

StrengtheningIndia’sriskpreparednessforsustainablegrowth

Businessestodayoperateinanenvironmentmarkedbypersistentuncertaintyand

rapidchange.Againstthebackdrop

ofeconomicvolatility,climate-related

risks,increasingcybervulnerabilities,

acceleratedtechnologicaldisruptionand

evolvinggeopoliticalrealignments,effectiveriskanticipationandmanagementhave

becomecriticaltolong-termsustainability.

Recognizingthis,FICCI,inpartnershipwithEY,hascontinueditseffortsofcapturing

industryperceptionsonemergingand

evolvingrisks,consolidatingtheseinsightsintoacomprehensiveandanalyticalrisk

rankingthroughtheFICCI-EYRiskSurvey.

Inrecentyears,businesseshavehadto

navigateoverlappingcriseslikepublic

healthdisruptions,supply-chainfragilities,energyandfoodsecurityconcerns,financialpressuresandshiftingworkforcedynamics.

Evenaseconomicactivityisgaining

momentum,theglobaloperatingenvironmentremainsfragile,withuncertaintyincreasinglybecomingastructuralfeatureratherthana

temporaryphase.

Onthedomesticfront,policyinterventionsaimedatstrengtheningeconomicresilience,improvinggovernance,andpositioningIndiaasagloballycompetitiveeconomyhave

playedavitalroleincushioningexternal

shocks.Throughfocusedpolicyreforms,

institutionalstrengthening,infrastructure

developmentandgreateruseoftechnology,thefocushasbeenonanticipatingrisks,

reducingvulnerabilitiesandimprovingpreparednessandresponsecapabilities.

ThevisionofAtmanirbharBharatissteadilytranslatingintotangibleoutcomesacrosssectorssuchasdefense,renewableenergy,healthcare,digitalinfrastructureand

advancedmanufacturing.WhilecontinuedeffortstorationalizeregulationsandeasecompliancehaveenhancedIndia’sattractivenessasaninvestmentdestination,the

evolvingregulatorylandscapealsorequiresbusinessestoadapttohighercomplianceexpectationsincertainareas.

AsIndiaprogressestowardsitsUS$5trillion-economyaspiration,theabilityofbusinessestomanagerisksproactivelywillbecentraltosustaininggrowth,competitiveness,andinvestorconfidence.

Atthesametime,therisklandscapeisundergoingafundamentalshift.Climate-relatedrisks,environmentalcompliance,resourceconstraintsandsustainabilityexpectations

arerisingsharplyonboardroomagendas.Parallelly,therapidadoptionofdigital

technologies,whileenablinggrowthandefficiencyhasamplifiedexposuretocyber

threats,databreaches,andthemisuseofemergingtechnologiessuchasdronesandAI.

Addressingtheserisksrequiresnotonlyrobustregulationbutalsoactivecollaborationbetweengovernment,industry,start-upsandacademia.Scientificcapabilityand

frontiertechnologiesareincreasinglyatthecoreofIndia’stransformation,driving

mission-modeinitiativesandfosteringinnovation,intellectualpropertycreation,andglobalcompetitiveness.

Inthiscontext,understandingriskasadynamic,interconnectedspectrumratherthanasisolatedchallengesisessentialforinformeddecision-making.TheFICCI-EYRisk

Surveyseekstosupportorganisationsinthisendeavorbyofferingastructuredviewoftheevolvingriskenvironment.Wehopethisreportservesasavaluableguidefor

businessestoassesstheirriskexposure,strengthenpreparedness,andbuildadaptivestrategiesinanincreasinglycomplexworld.

RajeevSharma

Chair,FICCICommitteeonCorporateSecurity&DRRandCluster

ManagingDirector,India,Nepal&Bangladesh,G4SCorporateServices(India)PvtLtd

Introduction

Businessenvironmentsworldwidearebecomingmorecomplexandinterconnected,with

uncertaintyshapingstrategic,operationalandinvestmentdecisions.Risksnowemerge

simultaneouslyfrommultipleriskvectorsandofteninteracttoinfluencestability,growth

andgovernance.Inthissetting,organizationsneedastructuredandcoherentviewof

risktosupportsoundjudgementandtimelyaction.Withinthisbroaderlandscape,Indiaisnavigatinganeconomictransitionshapedbyglobaldevelopmentsanddomesticpressures.

Geopoliticaltensions,evolvingtradepatterns,regulatorychanges,technologydependence,climateconsiderationsandworkforcedynamicsareinfluencinghowenterprisesplanand

operate,affectingsupplychains,marketaccess,complianceandcoststructures.

TheFICCI-EYRiskSurvey2026:Riskoutlook-AcompasstoIndia’srisklandscapefor

Indianbusinesses,offersacomprehensiveviewofthesechallenges.Drawingoninsightsfrombusinessleadersacrosssectors,thereportexaminesriskperception,prioritizationandmanagementjuxtaposedwithglobaltrends,India-specificrisksandsector-level

perspectivestosupportinformeddecision-making.

Keyfindingsataglance

Geopoliticalpressuresandrapidshiftsintheoperatingenvironmentareincreasingly

influencingorganizationalpriorities,affectingstability,leadershipfocusandbusiness

confidence.Surveyinsightsreflectgrowingpressureacrosstechnology,governanceand

workforcedimensions,withrespondentshighlightingseveralareasofheightenedexposure.

Concernsarounddigitalriskremainprominent

61%ofrespondentshighlightcyber-attacksanddatabreachesasmajor

financialandreputationalthreats

59%pointtolimitedadoptionofemergingtechnologies,includingAI,

affectingoperationaleffectiveness

Workforcechallengespersist

64%reporttalentshortagesandskillgapsinfluencingorganizational

performanceandlong-termcapabilityplanning

□Governance-relatedpressuresarealsoincreasing

45%ofrespondentsindicatethatnon-compliancewithESGdisclosure

requirementshasadirectimpactontheirorganization

Together,thesefindingsindicatethatrisksacrosstechnology,governanceandtalentarebecomingmoreinterconnectedratherthanoperatinginisolation.Asthesepressures

converge,organizationshavetotakeamoreintegratedapproachtoriskmanagement,

strengtheningoversight,capabilityplanninganddecision-makingtosupportstabilityandsustainedperformanceinanevolvingoperatingenvironment.

6FICCI-EYRiskSurvey2026:Riskoutlook–AcompasstoIndia’srisklandscape

Indianbusinessesarenavigatinganincreasinglycomplex

risklandscapemarkedbygeopoliticalvolatility,regulatoryactivism,supplychainfragility,rapiddigitalisation,andheightenedstakeholderscrutiny.Theserisksareconverging,amplifyingtheir

impactonprofitability,businesscontinuity,andreputation.For

Indianenterprises,resilienceisnowastrategicimperative.Leadingorganisationsarestrengtheningenterprise-wideriskgovernance,investingintechnology-enabledcontrols,andembeddingrisk

intelligenceintocapitalallocationandgrowthdecisions.Thosethatproactivelyanticipate,quantify,andrespondtoemergingriskswillbebetterpositionedtoprotectvalueandsustainlong-termgrowth.

Insectorslikedrones,defencemanufacturing,logistics,

andcriticalinfrastructure,AIisnolongerexperimentalitisoperational.WithMilitaryAImovingfromlabstolivemissions,alongsideprecisionandspeedcomeheightenedsecurityrisks

cyberintrusion,datacompromise,autonomousmisuse,IPtheft,andsupply-chainvulnerabilities.ForIndianbusinesses,trustedAIbuiltonindigenoussystems,securedataframeworks,andstronggovernancewilldefinesustainablecompetitiveness.

SudhakarRajendran

RiskConsulting

LeaderandPartner,EYIndia

BodhisattwaSanghapriya

Co-Chair,FICCIDrone

CommitteeandFounder&CEO,IGDefence

FICCI-EYRiskSurvey2026:Riskoutlook–AcompasstoIndia’srisklandscape7

8FICCI-EYRiskSurvey2026:Riskoutlook–AcompasstoIndia’srisklandscape

CHAPTER01

Majorrisksshapingbusinessoutcomes

Acloselookatthechangingglobalconditions

influencinginvestmentandsourcingdecisions

Geopoliticaldevelopments,shapedbyevolvingtradepoliciesandshiftingglobalpriorities,continueto

influencetheglobaloperatingenvironment.Asmajoreconomiesadjusttheirpolicydirection,uncertaintyisexpectedtopersistinto2026,affectingtrade,

investmentandsupplynetworks.

Theseshiftsarecontributingtoagradualrealignmentofglobaltradeflows.Manyeconomiesareplacing

greateremphasisondomesticcapacitybuildingandsupplyresilience,particularlyacrosssectorssuch

assemiconductors,cleanenergyandadvancedmanufacturing.Changesintrademeasuresare

influencingtheavailabilityandpricingofcritical

inputsusedacrosselectronics1,electricmobilityandrenewableenergyvaluechains.

Together,thesetrendsreinforcetheimportanceofpreparedness.Ongoinggeopoliticalshiftscontinuetoinfluenceenergymarkets,supplychainsand

regulatoryenvironments,withimplicationsacrossoperational,financialandreputationalareas.

Insuchanenvironment,scenarioplanningand

geopoliticalawarenessarebecomingimportanttoolstosupportinformeddecision-makingandstrengthenorganizationalresilience.

Sentimentgradientongrowingconcern(lefttoright)

EconomicslowdownsandmarketdisruptionsspecifictoIndia’s

businessenvironment

significantlyimpactourbusiness.

Geopoliticaltensions

maypotentiallydisruptouroperations

Sustainedinflationandprolongedeconomicvolatilitysignificantly

impactourbusinessoperations.

68%

11%

15%63%

67%

14%

DisagreeAgree

1.PolicyBackgrounder:TheFutureoftheCHIPSandScienceAct

Intoday’sinterconnectedrisk

landscape,geopoliticalriskisno

longerepisodicbutanewoperatingreality.Leadingorganizationsareembeddinggeopoliticalintelligencedirectlyintobusinessstrategy,

notonlytobuildresiliencebuttosharpencompetitiveadvantage.

VishalRuia

AdvanceManufacturing,MobilityandInfrastructure(AMI)Risk

LeaderandPartner,EYIndia

Resilienceandadaptabilityarenolongeroptional.

Buildingflexibilityandstayingattunedtogeopoliticalshiftscaninfluencehoworganizationssustain

performanceinthisevolvingenvironment.

TheFICCI-EYrisksurveydataindicatesthateconomic

slowdown,marketdisruptionsandsustainedinflation

remainkeyareasofattentionforIndianbusinesses,

with68%ofrespondentsreflectingasharedviewon

theirrelevance.Economicvolatilitycontinuestofeatureprominently,with67%ofrespondentsagreeingor

stronglyagreeingonitsimpactonbusinessplanning

andoperations.Geopoliticalfactorsalsoremain

relevant,with64%ofrespondentsacknowledgingthatgeopoliticaltensionsarehavinganoticeableimpact

ontheirorganizations,contributingtouncertaintyin

decision-makingandlong-termoutlook.Thesefindingsreinforcetheneedforboardstoembedgeopolitical

foresight,prioritizeresilienceoverefficiencyandaligncapitalallocationwithafragmented,unpredictable

globallandscape.

Themessageforbusinessleadersisclear:Sectoral

impactsarerealandimmediate.Technology,

automotive,defense,energyandmanufacturingfirms

shouldbuildresilienceintotheirsupplychains,diversifysourcingandstayagileinpricingandregionalstrategy.Inthisnewera,monitoringgeopoliticalflashpointsis

notjustprudentbutessentialforsurvivalandgrowth.

Organizationalconsiderationstocountergeopoliticalrisks

Areweembedding

geopoliticalforesight

intoourcoregovernanceanddecision-making?

Havewereconfiguredourglobalfootprintforresilienceratherthanpureefficiency?

Areourcapital

allocationandgrowthstrategiesalignedwithgeopoliticalrealities?

Globalshiftsareprompting

Indianenterprisestorethink

howtheyoperateandcompete.By

strengtheningpartnerships,embracing

smarterplanning,andbuildingadaptablenetworks,businessescanconvert

uncertaintyintoopportunitywhile

enhancingconfidenceacrossstakeholders.

MonicaMalhotraKandhari

Chair,FICCIPublishingCommitteeandManagingDirector,MBDGroup

FICCI-EYRiskSurvey2026:Riskoutlook–AcompasstoIndia’s

risklandscape9

CHAPTER02

Cyberrisks

ElevatingtheconversationfromITthreattoboardroompriority

Cyberriskisemergingasadefiningchallengefor

operationalstabilityandinfrastructureresiliencein

today’sdigital-firstbusinesslandscape.Nolonger

isolated,theserisksnowshapetheveryfoundationofenterprisecontinuityandcompetitiveadvantage.

RansomwareandDistributedDenial-of-Service(DDoS)attacksdisruptproduction,logisticsandessential

services,resultingindowntimeandfinancialloss.Databreachesexposesensitivecustomerandbusiness

information,leadingtolastingreputationaldamage.

Assystemdefensesimprove,humanerrorisexploitedthroughphishingandsocialengineering.Inparallel,

dependenceonthird-partyvendorsexpandsexposure,

TechnologyandCybersecurityrisks

61%

Rapidtechnological

advancementsand

digitaldisruption

significantlyimpactourcompetitiveposition

61%

Cyber-attacksanddatabreachespose

significantfinancial

andreputationalriskstoourorganization

whereasinglesecurityfailurecancascadeinto

regulatory,legalandoperationalconsequencesacrosstheorganization.

Globally,theaveragecostofadatabreachstandsatUS$4.4million2,whileransomwareincidentsnowcostapproximatelyUS$5.5million,upnearly17%year-on-year3,reflectingashifttowarddatatheftandsystemdisruption.Attacksoncriticalinfrastructurearealsorising,withmanufacturing,healthcare,energyand

financebeingamongthemostaffected.Ransomwareincidentshaveincreased50%in2025,largelyvia

phishingandremoteaccess4.

57%

Datatheft,insiderfraud,andsabotagethrough

businessespionagehaveasignificantimpacton

ourorganization

47%

Ourorganizationfacessubstantialchallengesinaddressing

sophisticated

cybersecuritythreats

2.Costofadatabreach2025|IBM

3.HIPAAJournal:Only23%ofRansomwareVictimsPaytheRansom

10FICCI-EYRiskSurvey2026:Riskoutlook–AcompasstoIndia’srisklandscape

Thebusinessenvironmenttodayis

dealingwithrisksthatarenuancedduetomyriadfactors.WiththepermeationofAItechnologiesandcyberrisks

inallwalksoflifeandbusiness,it

presentsbothrisksandopportunities.Thekeyfororganizationswillbeto

seizetheopportunitythattechnologydisruptionhastoofferwhilebalancingtheinherentrisks.

DeepakBhalla

EVPFinanceandChiefRiskOfficer,InfosysLimited

IndiafacesasharpriseincyberintrusionsduetoAI-

basedsocialengineering,cloudgaps(misconfigured

orweakcloudsecuritysettingsthatexposesystems

anddata),andvulnerabilitychaining(attackerslinkingmultiplesmallsecurityflawstogaindeeperaccessintonetworks).Botactivityhasincreased,withmulti-vectorcampaignsbecomingmorecommon.Deepfakevoice

scamsaffectthebankingsector,leadingtolossesfromfraudandhighercomplaintvolumesontheNational

Cyber-CrimeReportingPortal(NCRP)5.

Thesurveyindicatesthattechnologyandcybersecurityrisksareagrowingconcern,with61%ofrespondents

agreeingorstronglyagreeingthatdigitaldisruptionaffectscompetitivenessandcyberattacksposemajorthreats.Additionally,57%highlighttheimpactof

datatheftandinsiderfraud,while47%acknowledgechallengesinmanagingsophisticatedcyberthreats.

Organizationalconsiderationsforcyberriskmanagement

Doourgovernancestructuresprovideclearownershipandtimelyoversightofcyber

riskattheenterpriselevel?

Arewepreparedtosustainoperationsandrecoverquicklyifacyberincidentweretodisruptcriticalsystems?

Doourworkforcepracticesandthird-

partyrelationshipsintroducehiddencyberexposuresthataremonitoredcontinuously?

Cyber-attacksanddatabreachesposemajorfinancial

andreputationalrisks,whilerisingthreatsophistication,insiderfraudandbusinessespionagedemandstrongerinternalcontrolsandvigilance.Thesefindingsreinforcethattherealchallengeisnotjusttodefendbutto

anticipateandadapt.

Fororganizations,theimplicationisincreasingly

evident:Cyberriskposesadirectthreattooperations,revenueandtrustandcyberreadinessiscentralto

4.Halfof2025ransomwareattackshitcriticalsectorsas

manufacturing,healthcareandenergytopglobaltargets-IndustrialCyber

5.

.in/PressReleasePage

.

aspx?PRID=2176146&utm®=3&lang=2

businesscontinuityandconfidence.

Fororganizations,particularly

thoseoperatingcritical

infrastructureandlarge-scale,

distributedoperations,thefocusmustshiftfromreactiveriskmanagementtobuildingintegrated,technology-drivensystemsthatenhancevisibility,enablefasterdecision-making,andstrengthenaccountabilityacrosstheenterprise.

AdityaKhemka

Co-Chair,FICCICommitteeonCorporate

Security&DRRandManagingDirector,CPPLUS

FICCI-EYRiskSurvey2026:Riskoutlook–AcompasstoIndia’srisklandscape11

CHAPTER03

Artificialintelligence

(AI)risks

Evolvingfromtechnicalchallengetoenterpriseimperative

AIisreshapingthebusinesslandscape,creatingnewopportunitiesaswellasrisksthatrequirethoughtfuloversightfromseniorleaders.Thegrowinguseof

AIsystemsthatcancompletetaskswithverylittle

humaninvolvementmakesstrongguidanceandclosecoordinationacrossteamsmoreimportantthanever.

AIcanintroduceinherentrisks,includinghallucinationsthatproduceconfidentbutincorrectoutputs,bias

embeddedintrainingdata,andweakexplainabilityandpoordataquality,allofwhichcanunderminedecisionaccuracyandaccountability.Theserisksareno

longertheoretical.

Deepfakeincidentshaverisensharply,withmanipulatedcontentbecomingincreasinglywidespread.Ina

globalsurvey,around35%ofrespondentsreported

beingexposedtomanipulatedorAI-generatedmedia,

includingdeepfakevideos,imagesoraudioencountered

throughsocialmedia,messagingplatforms,news

feedsorcampaigncommunications.AsrelianceonAI

grows,failuressuchasmodeldrift,whereAIaccuracy

declinesasdatapatternschangeovertimeanddata

poisoning,whereincorrectormanipulateddataaffectsmodeloutputs,triggerforecastingerrors,inventory

disruptionsandproductivitylosses,whilestricter

regulationheightenscomplianceexposure.Public-facingerrorserodetrustandunmanagedmodelextraction

risksexposeproprietarychallenges,creatinglastingfinancial,regulatoryandreputationalconsequences.

Beyondtheserisks,organizationsfaceemergingAI

exposuresthatdirectlyaffectcontrol,liabilityandtalentwhileincurringadditionalcosts.ShadowAIremains

amajorconcern,asemployeesusepublictoolsfor

sensitivework,riskingirreversibleintellectualpropertyleakage.Atthesametime,AgenticAIintroduceslegalambiguitywhenautonomoussystemsexecutecontractsorfinancialactionswithouthumanapproval.New

attackvectors,suchaspromptinjection,allowhiddeninstructionstobypasstraditionalsecuritycontrols.

60seniorexecutivesreportan

increasedconcernaroundpotential

impactonoperationaleffectivenessduetoinadequateadoptionofAI

FICCI-EYRiskSurvey2026:Riskoutlook–AcompasstoIndia’srisklandscape13

EffectivedigitalandAIgovernancetransformsunmanaged

technologicalriskintomanagedstrategicadvantage.

VarunGupta

PresidentandCFO,

JubilantIngreviaLimited

Talentdynamicsarealsoshifting,withAIcapability

gapsdrivingattrition,whileexcessiverelianceon

automationrisksweakeningcriticalthinkingand

judgmentacrossteams.AsthefocusshiftstoAI,it

iscriticaltoaddressAI-relatedcyberrisksthrough

strongergovernance,accesscontrolsandcontinuous

monitoringtopreventmisuse,dataleakageandmodelmanipulation.ManagingAIrisknowrequiresintegratedgovernance,rigorousmodelanddatamanagement

andcontinuousmonitoringtopreventinnovationfromoutpacingorganizationalcontrolandaccountability.

Thesurveyrevealssignificantoperationalconcerns

onboththelackofadoptionandtheineffective

managementofAI.Thereisaprevailingconcern

abouttechnologicalreadiness,costimpactandrisk

managementareasassociatedwiththeuseofAI.About60%ofrespondentsbelievethatinadequateadoption

ofemergingtechnologies,includingAI,canadverselyimpactoperationaleffectiveness,whilemorethan54%feelthatAIrisks,includingethicalconcerns,arenot

effectivelymanagedwithintheirorganization.

Thesefindingshighlightthatthetrueimperativeisto

proactivelyembraceandmanageAIrisks,promoting

operationalresilience,adaptabilityandriskgovernanceinarapidlyevolvinglandscape.

Fromaleadershipstandpoint,thepriorityisto

understandthatAIriskisnowacorebusinessrisk

andnotmerelyatechnologyissue.AsAIandAgenticsystemsscale,failurescandirectlyaffectdecisions,

complianceandtrust.Stronggovernance,clear

accountabilityanddisciplinedcontrolsareessentialtoprotectvalueandsustainconfidence.

OrganizationalconsiderationstocounterAIrisk

AreaccountabilityandoversightforAI

decisions,approvalsandoutcomesacrossbusinessfunctionsclearlydefined?

Havecontrolsaroundperformanceandexplainabilityofdataandmodelsbeendesignedandimplemented?

IsthererobustoversightforAIuse,

dataaccessandsystemdependenciestomanageemergingrisksresponsibly.

AsAIbecomesmoredeeply

embeddedinenterprise

environments,strikingtheright

balancebetweenautonomyand

controlisessential.Thefuture

belongstoleaderswhoseegovernanceandresiliencenotjustassafeguards,butasstrategicenablersforthenexteraofautonomousintelligence.

NitinMehta

DigitalRiskLeaderandPartner,EYIndia

6.Climatechangeiscostingtheworld$16millionperhour|WorldEconomicForum

14FICCI-EYRiskSurvey2026:Riskoutlook–AcompasstoIndia’srisklandscape

CHAPTER04

Environmental,socialandgovernance(ESG)risks

Drivingcascadingglobalanddomesticdisruptions

Risksfromclimateandenvironmentalpressures

continuetoriseasglobalwarmingintensifies,

extremeweathereventsbecomemorefrequentanddamagetoland,forestsandnaturalecosystems

worsens.Theserisksnowdisrupteconomies,supplychains,foodsystemsandlivelihoodsinrealtime.

Slowerprogressondecarbonization,persistently

highfossilfueluseandrisinggreenhousegas

concentrationsareleadingtosevereweather

conditions,biodiversityloss,pollutionandresource

stress,whilerapidurbanexpansionincoastaland

dryregionsincreasesexposureformillionsofpeople.

Theeconomiccostofclimatechangeisescalating,

withglobaldamagesprojectedtoreachUS$38trillionannuallyby2050undercurrentconditions.Storms,

floodsandheatwavesalreadycostaboutUS$16

millioneveryhour6.Repeatedextremee