Data privacy and protection – India is moving in the right direction: PwC-ASSOCHAM report

27 July, 2018: While India has taken constructive steps in moving closer to a state of data protection regime, it has to address data privacy and protection concerns promptly by formulating a law to benefit from the rise and spread of the data economy. Due to lack of comprehensive privacy regulation, Indian businesses are still beginners in data governance. On the other hand, developed economies where mature data privacy and protection laws exist are now undergoing revisions to align their regulations to the challenges and threats of the 21st century, highlights the whitepaper ‘Privacy in the data economy’ launched today by PwC India and ASSOCHAM.

Speaking on the occasion, Mr. Siddharth Vishwanath, Leader – Cyber Advisory at PwC India, said, “The spread of digital ecosystem in India where e-wallets, ride-sharing services, ecommerce, online entertainment services and social media are thriving is the direct result of digital disruption. But the absence of data privacy and protection law could lead consumers exposed to risks of their data being misused by organisations and data breaches on account of sub-optimal investments in security.”