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.
Bu hikaye Business Today India dergisinin February 18, 2024 sayısından alınmıştır.
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Bu hikaye Business Today India dergisinin February 18, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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A Man of Multitudes
IN A NEW BOOK, CAPTAINS OF INDIA INC. AND OTHERS PAY TRIBUTE TO RAHUL BAJAJ, THE TITAN OF INDIAN INDUSTRY
HOUSE OF THE RISING SUN
WITH THE GOVERNMENT OFFERING SUBSIDIES UNDER THE PM SURYA GHAR MUFT BIJLI YOJANA, MANY HOUSEHOLDS HAVE TAKEN A SHINE TO SOLAR ROOFTOP PANELS. BUT HOW MUCH DO THEY COST?
FROM GREY TO GREEN
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ECO CHAMBER
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THE GREEN BARRIER
THE EU'S CARBON BORDER ADJUSTMENT MECHANISM COULD MAKE INDIAN EXPORTS UNCOMPETITIVE, UNLESS EFFORTS TO REDUCE CARBON EMISSIONS ARE ACCELERATED
HUMANISING SUSTAINABILITY
THERE IS A NEED TO MOVE BEYOND INDIVIDUAL WELL-BEING AND FOSTER A SENSE OF INTERCONNECTEDNESS AND SOLIDARITY
DE-RISKING THE BOOKS
INDIAN BANKS ARE BEGINNING TO TAKE BABY STEPS TOWARDS ADDRESSING CLIMATE-RELATED FINANCIAL RISKS IN THEIR BOOKS. BUT THEY MUST PUT THEIR FOOT ON THE PEDAL AND ENHANCE PREPAREDNESS
PAYING FOR CHANGE
WITH EXTREME WEATHER INCREASINGLY PUTTING THE COUNTRY AND ITS ECONOMY AT RISK, INDIA SHOULD EXPLORE CLIMATE FINANCE PATHWAYS TO FUND ITS NET-ZERO JOURNEY TOWARDS A GREENER FUTURE
BEYOND THE BLIP
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PROFITING FROM ESG
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