Indian cybersecurity market set to hit $3 billion by 2022 but tech-savvy youngsters turn to crime

A new report shows that India is increasing its cyber capabilities and becoming a growing cyber powerhouse with its cybersecurity market expected to rise from $1.97 billion in 2019 to over $3 billion by 2022.

But the study from threat intelligence platform IntSights also shows that the country has a growing cybercriminal underground. A young, tech-savvy population with limited access to careers in the domestic tech sector is at risk of being lured into cybercriminal activities to provide for their families.

There's also a recent emphasis on India expanding its cyber warfare capabilities including the use of state-sponsored Advanced Persistent Threat (APT) groups that target foreign adversaries. India's military is setting up its first cyber command, expanding the availability of devices and device connectivity, and lowering the cost of access.

The report shows that India is producing lots of tech talent, but it doesn't offer the same employment opportunities that can be found in China or many Western countries. While Bangalore is often referred to as the 'Silicon Valley of India' due to its rapid growth and tech adoption rates, unemployment remains high throughout the country, even for skilled workers. This opens the door for trained computer programmers to turn to cybercrime to make money.

The report's authors conclude, "With a massive, tech-savvy, and eager younger generation at its disposal, India's prospects as a global cyber powerhouse are fairly bright. In the coming years, India's continued investment in cyber operations should pay dividends on the global scale, entrenching it as a true cyber powerhouse alongside the likes of China, Russia, and the United States. The Indian military will not be playing catch-up to its rivals for very long at this rate."

The full report is available from the IntSights website.

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