FICCI–EY risk survey 2026: Risk outlook: A compass to India’s risk landscape

The FICCI-EY Risk Survey 2026 is built on a structured, multi‑sector questionnaire that captures how organizations are responding to converging disruptions. It covers perspectives across seven risk themes, highlighting where exposures are increasing, governance expectations are tightening and which resilience capabilities can most effectively protect performance in an increasingly volatile environment.

The trade reset and India Inc.’s resilience imperative

• Geopolitics has become a board-level operating variable for Indian businesses. Nearly two-thirds of leaders from the survey cite economic slowdown and disruption (68%), prolonged inflation/volatility (67%) and geopolitical tensions (64%) as material drivers of outcomes – raising the intensity of business risks in India.
• As major economies reset trade policy, industrial priorities and supply chains, uncertainty is expected to persist, accelerating trade-flow realignment, amplifying global trade disruptions and reshaping cost, continuity, compliance and competitive advantage.
• Input availability and pricing, especially in semiconductors, clean energy, electric mobility and advanced manufacturing, is expected to increasingly determine resilience, reinforcing the need for robust risk management strategies across suppliers, logistics and customer fulfilment.

Operational continuity in a multi-vector cyber landscape 

• Cyber risk is now a business-continuity and trust issue, as a result of which cybersecurity in business is a CEO-and-Board agenda item. Attackers blend ransomware, DDoS, phishing/social engineering, deepfake fraud, insider abuse and third‑party entry points, triggering simultaneous hits to operations, revenue and reputation.
• Leaders increasingly see cyber as a material enterprise risk that can undermine competitiveness, financial performance and brand confidence, especially amid escalating cybersecurity threats in India.

Operational continuity in a multi-vector cyber landscape 

• Cyber risk is now a business-continuity and trust issue, as a result of which cybersecurity in business is a CEO-and-Board agenda item. Attackers blend ransomware, DDoS, phishing/social engineering, deepfake fraud, insider abuse and third‑party entry points, triggering simultaneous hits to operations, revenue and reputation.
• Leaders increasingly see cyber as a material enterprise risk that can undermine competitiveness, financial performance and brand confidence, especially amid escalating cybersecurity threats in India.

Workforce resilience as a competitive advantage

• Workforce risk is becoming a structural constraint on performance. Talent shortages, fast-evolving skill requirements (accelerated by AI), weakened succession pipelines and fragmented culture in hybrid models are eroding productivity and stability while increasing conduct and compliance exposure.
• These workforce challenges in India elevate operational and reputational risk at the same time, especially where skills, safety and accountability are not in sync with business transformation.
• As roles and expectations shift, the differentiator can be workforce resilience. Continuous learning at scale, leadership readiness for distributed teams and a trust-led culture reinforced by clear accountability, role modelling and controls needs to be a core operating rhythm.

Continuous compliance as the new governance mandate

• Regulatory and compliance risk in India is accelerating in pace, scrutiny and enforcement, shifting compliance from periodic filing to always‑on governance. As reforms across data protection, labor, ESG, tax and sector rules evolve, 67% of executives say they have to address complex changes and 56% say rising privacy scrutiny is priority.
• Regulators increasingly expect firms to demonstrate and defend controls via digital reporting and near‑real‑time monitoring, while senior management and third‑party conduct face tighter accountability.

Operational and business continuity risks

• Operational resilience supported by strong business continuity planning has shifted from a risk-function concern to a value‑protection mandate as continuity risk rises faster than operating models are adapting. Disruptions are more frequent and interconnected, with shocks cascading quickly from suppliers to customers, cost and reputation.
• Expectations have also tightened. Stakeholders want measurable recovery readiness, such as tested plans, clear roles and proven outcomes. As physical events, workplace safety and site disruptions converge with traditional outages, resilience becomes strategic - the ability to operate through disruption, not merely respond after loss.