The Data Protection Law to Safeguard Privacy and Promote Inclusive Growth
Posted November 29, 2020
- Globally, 107 countries have introduced some form of legislation for data privacy and security.
- The implementation rate in Europe is high, but a majority of APAC economies are catching up on formulating local regulatory frameworks for protecting data privacy and security.
- India is one of the newest participants in the data protection ring, with the Personal Data Protection (PDP) Bill already approved by the cabinet of the Government of India.
- These regulatory developments are necessary considering the rising digital footprint of consumers and the patchy track of sensitive data they leave behind, namely — on the web, mobile, storage media, and other IoT devices where data might get processed or stored without intent or approval.
- Data today is at perpetual risk of a breach, leak, and abuse, with major repercussions in the form of identity theft, financial fraud, coercion and harassment, brand damage, customer loss, and even lawsuits.
– Bharat Panchal | November 29, 2020