Data Protection Bill pioneers enhanced privacy and security for all - 10 top points

tech.hindustantimes.com:

By Sandeep Gupta, Managing Director, Protiviti Member Firm for India

In the era of digitalization, data has become the bedrock of modern economies, propelling technological advancements and reshaping industries on a global scale. With its growing population and rapidly expanding digital infrastructure, India stands at the forefront of this data-driven revolution. However, as the country embraces the opportunities presented by data-driven technologies, addressing data privacy concerns has become paramount.

Data privacy represents a fundamental right of every individual, empowering them to retain control over their personal information and dictating how it is collected, stored, and utilized. In recent years, India has witnessed a surge in attention towards data privacy issues, driven by the exponential growth of internet users, e-commerce platforms, social media, and digital payment systems.

Taking proactive measures to tackle data privacy challenges, the government is on the correct path as it has approved the Digital Personal Data Protection Bill in the Union Cabinet. This legislation aims to establish a comprehensive framework for data protection, defining the rights of individuals and the responsibilities of data processors and controllers. Moreover, it endeavors to strike a delicate equilibrium between fostering innovation and safeguarding the privacy of citizens.

The bill will have significant impact on the ways of working across key sectors such as BFSI, Healthcare & Lifesciences, IT/ITES, Energy, Manufacturing, Consumer products, hospitality as well as Global capability centres (GCC). Further, the impact from a readiness perspective will be more on the SMB segment compared to MNCs which would have already been