Cybersecurity has become increasingly important in today’s digital age as cyber threats have become more sophisticated and pervasive. According to various reports, the average cost of a ransomware attack on businesses and the average data breach cost have both increased significantly in 2020. In India, 31% of people lost money to cyberattacks in 2022, and in the state of Gujarat alone, citizens collectively lose Rs 1 to 1.2 crore to online financial fraud every day. The challenge of cybersecurity is further compounded by the proliferation of Internet of Things (IoT) devices, cloud computing and mobile devices, all of which provide entry points for cybercriminals to exploit.
