Cyberattacks could potentially cripple national stability: Amitabh Kant

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Cyberattacks could potentially cripple national stability: Amitabh Kant - Business Standard

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In 2024, the banking, financial services and insurance sectors witnessed a huge surge in the sophistication and diversity of cyberattacks and the average cost of data breaches reached almost USD 2.8 million in India, Kant said, adding that last year, Indian businesses faced over 3,000 cyber attacks per week.

As India transitions to smart meters and more digital grid, increasing cyberattacks pose potentially crippling consequences for national stability and everyday life, G20 Sherpa Amitabh Kant said on Tuesday.

India has experienced a very sharp surge in state-sponsored cyberattacks, with such incidents rising by almost 300 per cent between 2021 and 2024, he said, while unveiling a study prepared by cybersecurity solutions company Lisianthus Tech in the national capital.