New Laws Will Be Catalyst For Digital Economy: Rajeev Chandrasekhar The target of India as a trillion dollar digital economy will amount for 25 per cent of total GDP by 2025-26
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
From India's first wireless network to now launching 5G, the tremendous innovation in future networks and the made in India initiatives indicate the distance travelled by India through decades.
"This is just the beginning and it's going to be India's decade. Thirty years ago when I was an entrepreneur, people thought I would crash and burn. Nobody anticipated I would be contributing to India's technology," said Rajeev Chandrasekhar, minister of state for electronics and information technology.
He was speaking at the India Ideas Summit organized by USIBC in New Delhi on Wednesday.
Talking about legislation on data governance, he said, "Our approach is very focused in terms of innovation, expanding innovation ecosystem and we believe Internet and technology are going to be big enablers of growth and expansion of our economy."
The target of India as a trillion dollar digital economy will amount for 25 per cent of total GDP by 2025-26. "This is our starting point," the minister pointed out.
Stating that the right to privacy has been recognized as fundamental right by the Supreme Court, he said that the approaches by government are very comprehensive and safety is of paramount importance.
"We believe our approaches are comprehensive and will enact a new legislative framework which addresses digital space. This would act as a catalyst for digital economy that will be an enabler for startups and at the same time protect privacy of citizens, openness, safety, trust and accountability."
"On the digital data protection side we will re approach the Parliament for the digital laws that would address the rights of the data principles, obligations and allow for the adjudication of data breaches in smooth and transparent manner," he added.
He also shared insights into the national data governance framework and policy, which aims to ensure non-personal data and anonymized data from both government and private entities are safely accessible by research and innovation eco-system.
The policy aims to provide an institutional framework for data/datasets/metadata rules, standards, guidelines and protocols for sharing of non-personal data sets while ensuring privacy, security and trust, this information was given by the minister in a written reply to a question in Lok Sabha in July.
"In the next two to three months new rules laws and regulations will be rolled out and it will be subject to intense public consultation and stakeholder consultation. These new sets of laws and rules will be the enabling laws and guidelines for coming decades. If there are any contradictions in the existing legacy laws we will get those amended."
It is to be noted that the government had withdrew the previous version of the data bill on August first week.
