Growing cybercrime and the need for an Indian cybersecurity force

In today’s rapidly evolving digital landscape, the importance of cybersecurity cannot be stressed enough.

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In India alone, a company falls victim to cyberattacks every 11 seconds. By August 2024, nearly 60% of businesses globally had experienced a ransomware attack. On a global scale, we contend with 5.5 billion malware attacks annually and an astounding 6.3 trillion attempted breaches —an average of 6.5 attacks every second.

According to some leading research sites such as CRN India, ransomware poses a significant threat in India, with eight out of 10 enterprises confirming that they have experienced such attacks. Further, almost 40% of large enterprises in India have fallen victim to phishing email-led attacks. A striking 92% of all surveyed enterprises believe that operational disruption would be a significant consequence of a ransomware attack. This data present a compelling portrait of the digital landscape we navigate. While digitalisation brings substantial economic and social benefits, it also introduces unique challenges — much like any powerful tool — that we must be prepared to address effectively.As cybercrime continues to evolve into a sophisticated enterprise, the need for robust cybersecurity measures becomes imperative. Effective cybersecurity demands not only the integration of cutting-edge technology and innovation but also the ability to navigate the complexities that accompany these advancements. The impact of cyberattacks on enterprises extends far beyond organisational boundaries, affecting individuals and communities. A recent ransomware attack on a company disrupted payment systems for 300 small, especially rural and cooperative banks across the country. As such incidents multiply, their repercussions on the nation’s economy and the financial well-being of its citizens are increasingly evident.

Shortage of skilled professionals