New Delhi: Krishna S Vatsa, Member, NDMA on Thursday highlighted that risk needs to be understood in all its complexity. “We cannot really implement mitigation unless we have risk assessment at the micro level,” he added.
Addressing the webinar on ‘New Age Risks’, organized by FICCI, Vatsa urged that there is a need for a much robust database for the hazard events and invited FICCI to collaborate on this important aspect. “The database is extremely important for understanding the pattern of hazards & the magnitude of impact,” he noted.
Rohit Karnatak, Managing Director, Pinkerton India said, “The nature of risks globally has changed enormously, and with their occurrences becoming more unexpected and their effects becoming more profound, risks need to be taken more seriously. In these changing times it is critical to understand emerging risks. The FICCI- Pinkerton India Risk Survey (IRS) recognize the emerging risks for the developing economies like India, during the phase of new normal. This IRS Report has been releasing annual risk ranking as perceived by corporates in India from last ten years. The survey report uses the Pinkerton Risk Wheel framework to understand and assess each risk individually and looks at risk from a holistic perspective for analyses.”
Rahul Chaudhry, Mentor, FICCI Committee on Homeland Security, said, “Timely communication is one of the most critical risk management strategies. Risks related to cyber space have increased many folds in past few years. We have been adopting and practicing a defensive strategy so far against cyber war, but we really need to work on the cyber mitigation and recovery strategy, not only for corporates but also for all the organizations across the country.”