Introduction of the Digital Personal Data Protection Bill can potentially transform the business landscape
Sandeep Gupta, Managing Director, Protiviti Member Firm for India, shares his perspective on the introduction of the Digital Personal Data Protection Bill (DPDP Bill) 2023:
The introduction of the Digital Personal Data Protection Bill (DPDP Bill) 2023 marks a significant turning point in safeguarding privacy, granting individuals extensive control over their personal data. Backed by a strong Data Protection Authority and strict provisions, the bill ensures rights such as informed consent, rectification, erasure, and data transfer. This legislation represents a major milestone in protecting digital privacy and promoting a secure data ecosystem in India.
It can potentially transform the business landscape by demanding transparency, explicit consent, data minimization, and adherence to usage limits. While organizations must allocate resources and address compliance costs, embracing these changes will allow them to navigate the regulatory environment successfully. Therefore, it is essential to prioritize the inclusion of the DPDP bill in the Board Agenda. Organizations will require leadership support and investments to implement robust privacy practices across their operations and processes. Although managing these necessary changes may present initial challenges, the long-term benefits are substantial, as customers and business partners tend to prefer working with organizations that demonstrate respect and responsible management of their data
