Excerpt from Cointelegraph Article – Published on Aug 07, 2023
India’s lower house of parliament has granted approval for amendments to a bill aimed at simplifying data storage, processing, and transfer regulations for major technology companies, commonly referred to as Big Tech. The Digital Personal Data Protection Bill 2023, endorsed on August 7, relaxes compliance standards for global giants like Google, Meta (formerly Facebook), and Microsoft, as well as domestic companies pursuing international expansion.
The proposed legislation permits the export of data originating from India, except to nations prohibited by the Indian government. Presently, the bill mandates government consent before Big Tech entities can collect personal data and prohibits the unauthorized sale of such data, including its anonymized use in artificial intelligence (AI) training.
While these revisions aim to reduce compliance burdens on companies, the bill must pass through the upper house of parliament for full implementation.
Given India’s vast population of internet users, the country holds significant growth potential and is a crucial market for technology firms.
Globally, regulatory concerns surrounding data misuse by Big Tech companies have gained prominence. The proliferation of accessible AI tools has intensified worries about data collection and its utilization.
Reports suggest that India is collaborating with the United States under President Joe Biden to establish an international framework for regulating artificial intelligence.
In the evolving tech landscape, the introduction of initiatives like the decentralized digital identity verification protocol Worldcoin has raised data collection concerns. Worldcoin’s iris-scanning Orbs have been deployed in various countries, including India, prompting discussions about privacy and data security.
To delve deeper into this topic, please read the full article on Cointelegraph.com