INDIA IS ON the cusp of a technological revolution and what we do now will decide the fate of billions of lives. With its young, dynamic population, burgeoning economy, and vibrant tech ecosystem, the country is well-positioned to be a digital frontrunner. The next five years will be pivotal in shaping India's digital destiny and regulations around tech could be the fuel required to achieve that goal.
India's journey towards a tech-empowered future by 2029 depends on strategic planning, effective regulation, and nurturing a skilled workforce. The country's success in this endeavour will shape not only its economy but also its standing on the global stage. A significant challenge will be balancing rapid technological advancement with robust data security and privacy laws. The government's role will be pivotal in creating policies that foster growth while protecting citizens' rights.
India's five-year agenda for tech regulation will rest on five pillars.
DATA PRIVACY
The digital era has brought concerns about data privacy and security, prompting India to introduce the landmark Digital Personal Data Protection Act (DPDPA) of 2023. According to Shreya Suri, Partner at the law firm INDUSLAW, the DPDPA's implementation hinges on awareness about compliance obligations and the rights of data principals. This law enforces stringent data security responsibilities on organisations and emphasises the protection of individual privacy rights. Suri claims organisations must establish robust grievance mechanisms for data principals to raise concerns, ensuring compliance and effective grievance redressal.
Esta historia es de la edición February 18, 2024 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 18, 2024 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
