India's exponential growth in the last five years has been a shining beacon, in an otherwise bleak world economic outlook. Credit, for example, must be given to the government's steady focus to expand India's technology sector. The RBI estimated the size of India's digital economy to be USD 222.5 billion in 2019 while a MEITY report suggests that India's digital economy could be valued between USD 500 billion to USD 1 trillion by 2025.
A key component of this growth is likely to be India's telecom sector, with the newly introduced 5G technology expected to contribute USD 450 billion to the economy between 2023 and 2040. With such rapid advancements, particularly in disruptive and highly data-intensive technologies, the need of the hour is to toe the fine line between promoting innovation and protecting individuals' data and privacy.
The Government of India appears to be committed to seizing this opportunity. In November 2022, the MEITY released the draft of the Digital Personal Data Protection Bill (DPDP) providing for the data protection of individuals for public consultation. Further, the MEITY is on the anvil of releasing a new law to replace the age-old Information Technology Act of 2000, which continues to govern India's technology sector. As reported, the Union Cabinet has approved the draft DPDP Bill 2023 and is likely to introduce it in the upcoming monsoon session of the Parliament.
ADOPTING THE DPDP BILL
This story is from the July,2023 edition of Voice and Data.
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This story is from the July,2023 edition of Voice and Data.
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