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Topic: data localisation
Mukesh Aghi, president & CEO of US-India Strategic Partnership Forum, says India should make some things easier for companies, like Vietnam & Cambodia do.
The debate on data localisation is now not only a political one, but also a geopolitical one, and a key aspect of trade talks.
India must identify partnerships and coalitions that can help it achieve its core interests.
Tech firms offer services in exchange, but the government will argue it needs your data for national security. Why not trade it then.
No other country enjoys the structural advantages that India possesses. So, it can create a multilateral platform for inter-governmental data mediation.
To address strategic concerns, Narendra Modi government can create a whitelist of countries that can be trusted to store and process Indian data.
Global economy is under a new industrial transformation, with digital technology leading the change but India wants to address its own rising aspirations.
Locating data on Indian soil may not necessarily give the government jurisdiction over it.
European think tank study has predicted that if data localisation is enforced, India’s projected growth could be affected by 20%.
Those interested in India’s economic future need to be careful about tying it down with yesterday’s restrictions.