HomeHubsFacebookIndia's New Data Law is Hurting Facebook and other Tech Giants

India’s New Data Law is Hurting Facebook and other Tech Giants

Reader's Pick

In the wake of Indian government’s new data protection initiative, global tech giants such as Facebook, PayPal, and others are now in a fix. The new directive mandates the technology companies to store and process critical personal data within India’s boundaries.

Since Facebook, Mastercard, and PayPal are already bogged down by such laws in China and Vietnam, the C-level executives fear that this law is going to significantly increase the overall infrastructure and compliance cost.

The global tech leaders are vying to take up the issue with lobby groups in order to coerce New Delhi to rethink.

“The potential fear of restricting cross-border data flow would impact the business models of several Indian as well as global companies,” said the letter addressed to India’s information technology minister.

- Advertisement -

While the localization of data safeguards personal data from theft and other cybercrimes, it is bound to impact FDI negatively, if implemented.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Logistics 4.0: Creating a value chain through smart interconnected technologies

Businesses are keeping up with the changing digital environment to stay competi...

Budget 2022-23: Technology, SaaS, AI & ML Sector Reactions

Technology market reaction on Budget 2022-23: As Finance Minister Nirmala Sitha...

Bitcoin Price Crash

Bitcoin crypto was launched in 2009. It was the beginning of the digital assets...