Incidents of cyberattacks on India may reach 17 trillion by 2047: Study

Cyberattacks on India are projected to rise to a staggering 1 trillion per annum by 2033, reaching 17 trillion by 2047, when the country turns 100, said a study by PRAHAR (Public Response against Helplessness & Action for Redressal).

Cyberattacks on India are projected to rise to a staggering 1 trillion per annum by 2033, reaching 17 trillion by 2047, when the country turns 100, said a study by PRAHAR (Public Response against Helplessness & Action for Redressal), a not for profit organisation that takes up pressing issues where common citizen often feel helpless in dealing with them.

This alarming outlook indicated that the country’s rise as a global power was being threatened by a steady, well-coordinated effort from adversaries aiming to destabilise its growth, both from within and outside its borders, cautioned the report.

Globally, cyberattacks increased by 76% in Q1 2024, with India among the most affected countries. This surge highlights a growing need for stronger cybersecurity measures across industries, particularly in sectors increasingly targeted by cybercriminals, as per the report.

In 2023, the country experienced over 79 million cyberattacks, ranking it third globally in terms of the number of such incidents. This marked a 15% increase from the previous year. The escalation continued into 2024. In the first quarter, reports indicated a sharp rise in cyberattacks, with over 500 million incidents blocked in just three months, it reported.

In the first four months of 2024, Indians lost more than ₹1,750 crore to cyber criminals, reported through over 740,000 complaints on the National Cybercrime Reporting Portal.

PRAHAR’s report also observed that citizens’ growing appetite for digital entertainment and gaming pushed them to illegal offshore betting and gambling platforms, making them vulnerable to sophisticated cyber manipulation, and turning them into tools for attacks on the state.

According to the report, it was critical for the country to develop a holistic cyber policy and execution strategy, restricting identifiable legitimate platforms could push citizens into the hands of dark web operators.