'In the absence of any standalone trade secret legislation, there is little recourse for firms in the event of misappropriation of their sensitive information,' the report says
The RBI mandate on data localisation is not the best solution to address concerns regarding information security, global cards major Visa said on Friday.
In a Q&A, Rishi Chhabra, who also heads the firm's India and Sri Lanka operations, dwells on his company's swift response to RBI's six-month moratorium and data localisation rules
What is a data localisation plan? What are data centres? Why is India pushing companies to store Indian users' data in data centres within the country? Here's an explainer
Will coal shortage trip India's nascent economic recovery? Why is Uber India President Prabhjeet Singh bullish on autos? What do data centres mean for India's data localisation plan? All answers here
\Indian policymakers need to be more "thoughtful and pragmatic" on data localisation, Singaporean lender DBS's chief executive Piyush Gupta said on Wednesday.
The Indian authorities feared that these apps were transferring consumer data to locations outside the country, especially China, in an unauthorised and surreptitious manner.
US Treasury Secretary Steven Mnuchin also insisted that America has no problem if countries want to have local data for regulatory purposes as long as they do not eliminate it outside the country