Industry raises concerns about the data protection bill

Data is the new age currency, and those who control this data are the real central bankers to the technological world, a fact that many governments around the world have considered as an existential threat to the well-being of a society and that is how a lot of the big tech companies have found themselves in a spot of bother while flirting with the personnel data points of the demographics of the world. The Indian government is also poised to deliver a data protection bill to further the safety of user’s privacy, and the significance of data in reshaping the country’s economic as well as security stance in the world stage and that will further the voice of protectionism which has been on course to a global echo for the prevailing sentiments of the markets as well as the governments across the world.

There has been strong backlash from the industrial units for this bill as they say it will be hampering the capabilities of the country to extract the maximum potential out of the data generated and local storage and government compliance will also mean strict regulations towards the budding entrepreneurial set up that has been trying to get its feet grounded in the changing times of data policy structure and determining the future course of action for the development and staging of world-class data facilities for the well being of privacy of consumer which has been regarded as a derived fundamental right under article 21 of the Indian Constitution.