Will Government Of India Change Its Stance On Data Localisation?

Will India change its stance on data localisation due to pressure from US government as well as slowing growth in global trade? As part of the localisation bill, RBI had already instructed all banking institutions to implement it with an October 15 deadline. Just recently, it also clarified exceptions to the localisation bill which were contradictory to the earlier announcement. This may have added further confusion for financial firms as many of them have not complied with the data localisation rule. Experts believe India may be looking to review the data localisation rule which had been identified as a key strategic move by the administration to protect citizens’ data. Importance Of Data Localisation For India When India also boycotted the Osaka Track- an agreement that sought free flow of data to boost multilateral digital trade during the recent G20 summit, it sent a signal that it wants to protect data over international trade and multilateral negotitiations. The Osaka Track ag