SEBI Chairman Tuhin Kanta Pandey Warns Of Quantum Computing Risks

The Securities Exchange Board of India (SEBI) Chairman, Tuhin Kanta Pandey, has warned that quantum computing could pose systemic risks to the economy, comparable to the Y2K crisis in 2000.

Unlike Y2K, quantum threats have no fixed timeline, making sensitive data vulnerable to future decryption by powerful machines. Experts note attackers may already be collecting encrypted data for later exploitation, which could affect government databases, financial systems, and digital identities. Industry leaders have called for a coordinated national approach to post-quantum readiness, rather than scattered advisories. SEBI plans to make its systems quantum-safe by 2028-29 through post-quantum cryptography adoption. The government has allocated Rs 6,003.65 crore to quantum research under the National Quantum Mission. Experts warn that proactive measures are required to prevent future digital vulnerabilities.