India reported cyber fraud losses exceeding ₹11,333 crore in the first nine months of 2024, according to the Indian Cyber Crime Coordination Centre (I4C). The figures have prompted calls for businesses to strengthen data protection measures as World Backup Day approaches on March 31.
Sandeep Bhambure, Vice President and Managing Director of Veeam Software India & SAARC, said: “This is a clarion call for businesses to look beyond conventional data backup mechanisms and adopt a comprehensive data resilience strategy. World Backup Day is an important reminder in this context.”
The top executive noted modern data backup requires more than file duplication. “Data backup now is no longer just about copying files; it’s an integral part of an organisation’s cybersecurity infrastructure,” Bhambure stated, recommending immutable backups, automated threat detection and rapid recovery systems to counter cyberattacks.
Recent ransomware attacks have disabled operations at several Indian firms for days, with recovery costs often exceeding ransom demands. Industry analysts estimate a larger number of small businesses fold within six months of major data breaches.
The Digital Personal Data Protection Act (DPDPA) implemented in August 2023 has raised compliance standards. Bhambure observed: “This regulatory framework will enable Indian businesses to align with global standards and ensure business continuity.”
Experts recommend organisations conduct quarterly recovery drills, isolate backup systems from primary networks, encrypt all sensitive data copies and maintain air-gapped backup repositories
The cybersecurity solutions market in India is projected to grow at 18% annually, reaching $3.5 billion by 2026 as firms upgrade defenses. Cloud-based backup adoption has increased 42% year-over-year among mid-sized enterprises.
With phishing attacks rising significantly in 2024 according to CERT-In data, Bhambure emphasised proactive measures: “Implementing immutable backups and ensuring proper orchestration for effective data restoration can mean the difference between business continuity and catastrophic downtime.”
As digital transformation accelerates across sectors, industry analysts stress that data resilience strategies must evolve at matching pace to protect India’s growing digital economy from increasingly sophisticated cyber threats.
