Cyberattacks pose potentially crippling consequences for national stability: Amitabh Kant

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. 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 $2.8 million in India, Kant said, adding that last year, Indian businesses faced over 3,000 cyber attacks per week.