Indias forced data sharing plan is resisted by US technology giants

category:Finance
 Indias forced data sharing plan is resisted by US technology giants


In a recent interview, Kris Gopalakrishnan, chairman of the Committee and co-founder of Infosys, pointed out in a recent interview that multinationals benefit enormously by sharing non personal data.

Every enterprise will benefit from data sharing. If its a small business, they can access this data. If its a big business, theyll have access to more data, including government data. All of us are trying to make data sharable, available to businesses to provide better services, and to help every company, every business, he told the media

Boycotted by American technology giants

But some technology companies are skeptical of the proposal.

The US India Business Council (usibc), a member of the American Chamber of Commerce, said in a letter to the Indian government that this kind of compulsory data sharing would hinder competition and undermine the investment and efforts of companies to process and collect such information. They firmly opposed the move, it is also tantamount to taking away the assets of investors and destroying the protection of intellectual property rights.

Indias increased regulation of data collection and use by companies is the latest stimulus for us technology companies, which are also facing similar challenges in several other regions, such as the European Union, which are developing stricter e-commerce rules and data storage regulations.

The draft usibc letter said that compulsory data sharing would restrict foreign trade and investment of developing countries. Indias proposal contradicted Prime Minister modis call for US companies to increase investment in India. The lobby group expressed concern about the Commissions expert groups proposal to impose local storage of non personal data, calling it a sharp tightening of Indias international data transmission system. These concepts are far-reaching and will have a significant impact on the ability of India and multinational companies to do business in India, Covington & burling, a Washington based law firm, said in a report prepared for usibc. Source of this article: Chen Hequn, editor in charge of science and technology innovation board daily_ NB12679

The draft usibc letter said that compulsory data sharing would restrict foreign trade and investment of developing countries. Indias proposal contradicted Prime Minister modis call for US companies to increase investment in India.

The lobby group expressed concern about the Commissions expert groups proposal to impose local storage of non personal data, calling it a sharp tightening of Indias international data transmission system.

These concepts are far-reaching and will have a significant impact on the ability of India and multinational companies to do business in India, Covington & burling, a Washington based law firm, said in a report prepared for usibc.