Indian Firms Should Prepare for Compliance, Say Experts As Data Protection Bill Gets Tabled in Parl – News18

IT minister Ashwini Vaishnaw on Thursday clarified that the Digital Personal Data Protection Bill, 2023 (DPDPB) is just not a cash invoice, and the federal government is able to focus on it and any concern raised by the Opposition.

During the Monsoon Session, the opposition highlighted the issues on whether or not the invoice violates the judgment of the Puttuswamy Case, and urged that it needs to be mentioned additional and needs to be referred to a Parliamentary Standing Committee.

Despite the issues associated to the invoice, trade insiders consider it’s a well-constructed invoice for Digital India.

Sujit Patel, MD and CEO, of SCS Tech, informed News18 that it’s essential to understand and comprehend the applicability of the DPDPB, which creates a brand new framework for private information safety.

“The bill will bring India one step closer to establishing the law on data privacy and protection. It is being done to serve the greater aim of a digital economy. The bill is expected to give people more rights, visibility, awareness, autonomy in decision-making, and control over their data, while also requiring businesses to respect those rights and offer suitable remedies,” he added.

Meanwhile, Dhiraj Gupta, Co-Founder and CTO of mFilterIt, believes that in mild of the brand new motion in direction of information privateness, companies should pay attention to their tasks in direction of their buyer’s information safety.

“Data protection must be balanced with the right equation of fraud detection. Businesses must be well-equipped to combat the threats of data breaches and ensure their customer’s data is not at risk,” Gupta mentioned.

Amit Jaju, Senior Managing Director, Ankura Consulting Group (India), suggested Indian corporations to start out getting ready for compliance to keep away from penalties and reputational harm because the invoice is launched in Parliament.

“They can take proactive steps such as appointing a Data Protection Officer, conducting a Data Protection Impact Assessment and implementing appropriate security measures. Gradually, they can prepare by obtaining consent for processing personal data, establishing a grievance redressal mechanism, complying with cross-border data transfer requirements, and developing a data retention policy. By reviewing their current data protection practices and making necessary changes, Indian companies can ensure compliance with the proposed law and protect personal data privacy,” he urged.

Udit Mehrotra, MD and CEO, Spectra mentioned: “As the Digital Private Data Protection Bill takes centre-stage in Parliament right now, it serves as a vital reminder that simply as person privateness is paramount within the digital age, community safety stands as an equally crucial duty for corporations. Safeguarding not solely private info but additionally the very infrastructure that holds it, ensures a panorama the place belief, innovation, and progress can thrive unhindered.”