Cyberattacks targeting India are projected to surge dramatically, reaching an estimated $1 trillion annually by 2033 and a staggering $17 trillion by 2047, as detailed in a study by PRAHAR, a nonprofit organization focused on addressing pressing social issues. This alarming forecast suggests that India’s emergence as a global power is at risk due to a coordinated campaign by adversaries aiming to destabilize its economic and technological growth.
The report highlights a significant increase in global cyberattacks, which rose by 76% in the first quarter of 2024, with India being one of the most affected nations, underscoring the urgent need for enhanced cybersecurity measures across various sectors. In 2023 alone, India faced over 79 million cyberattacks, ranking third globally in terms of incident frequency, marking a 15% increase from the previous year.
This trend of escalation continued into 2024, where reports indicated a dramatic rise in cyber threats, with over 500 million cyber incidents blocked within just three months. The sheer volume of attacks reflects an ongoing crisis in cybersecurity that demands immediate and robust responses from both governmental and private sectors to safeguard sensitive information and maintain national security.
Financially, the impact of cybercrime has been severe, with Indian citizens reportedly losing more than ₹1,750 crore, equivalent to approximately $211 million, in the first four months of 2024 alone. Over 740,000 complaints were filed on the National Cybercrime Reporting Portal, revealing the widespread nature of these incidents.
The PRAHAR report points out that increasing engagement with digital entertainment and gaming has driven many individuals toward illegal offshore betting and gambling platforms, which in turn exposes them to sophisticated cyber manipulation, effectively turning them into unwitting participants in anti-national activities.
To counter these threats, the report advocates for the development of a comprehensive national cyber policy and a more aggressive offensive stance in cybersecurity. Recommendations include establishing a “Super Cyber Force,” implementing advanced technological infrastructure, enhancing skill development initiatives, and educating citizens on cyber threats.
Abhay Mishra, National Convenor and President of PRAHAR, emphasizes the importance of recognizing two distinct types of cyberattacks: those conducted by traditional hackers for financial gain and more insidious attacks that target individuals for coercion or manipulation. With the rise of cyber warfare, the report underscores the need for India to bolster its defenses and adopt proactive measures to protect its citizens and national interests from evolving cyber threats.
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