Lt Gen (Retd.) Dr Rajesh Pant, AVSM, VSM National Cyber Security Coordinator, National Security Council Secretariat of India, Government of India, has emphasized the need for companies to invest more than 10% of their information technology assets in cybersecurity, as the number of internet users is expected to reach 25 billion by the end of 2023, with the advent of 5G technology.

Speaking at the 17th India Digital Summit, organized by the Internet and Mobile Association of India (IAMAI) in partnership with Google and MessageBird, Dr Pant emphasized that cybersecurity must never be compromised and that companies must invest in security to meet the challenges of the future.

Dr Pant also discussed the ‘splinternet’ concept, where lack of cooperation between nations has led to cybercriminals taking advantage of the absence of international laws and regulations, making it difficult for agencies to solve cybercrimes. According to Dr Pant, cybercrime is the biggest man-made risk to the economic progress of a nation, with a total loss of approximately $6 trillion last year.

Regarding India’s role in dealing with cybercrime, Dr Pant highlighted the National Counter Ransomware Task Force created under the Ministry of Home Affairs, the Indian Cybercrime Coordination Centre that handles the cybercrime portal cybercrime.gov.in, where cybercrimes can be reported, and the National Critical Information Infrastructure Protection Centre (NCIIPC), which has approximately 580 people who monitor and predict cyber threats. Dr. Pant also identified seven critical sectors, including power and telecom, with two of them being supercritical.

At the international level, Dr Pant mentioned that India, Australia, UK, and the US have come together to create an International Counter Ransomware Task Force to put perpetrators under sanctions, which has already saved approximately $150 million.

In his closing remarks, Dr Pant highlighted the three hard truths of cybersecurity – vulnerability, cyber-attacks, and attribution – and emphasized the importance of personal health and cyber hygiene as the two mantras for the post-Covid digital world.

The 17th India Digital Summit brings together policymakers, regulators, industry captains, and subject experts in over 60 sessions, with over 150 speakers and 500 digital brands, and the participation of over 3000 delegates. The summit aims to provide a platform for discussions on emerging trends and challenges in the digital space and to provide insights into the future of digital technologies.