job creation: In the future, economic activity is likely to follow data, the widely expected draft policy document said, according to The Japan Times. It is hence vital that we retain control of data to ensure job creation within India. The proposed overhaul, which would likely increase operating costs for the sector, comes two months after the country modified regulations governing foreign direct investment in e-commerce. ; That forced retail giants Amazon and Walmart-owned Flipkart to restructure their Indian operations, and the latest reforms spell further upheaval. The new rules call for the housing of more data centers and server farms locally, amid a broader push for data localization by the South Asian nation, which is one of the world's fastest-growing online markets. Steps will be taken to develop capacity for data storage in India, the draft e-commerce rules said. India's central bank in 2018 forced payments providers such as Mastercard and Visa Inc to store Indian users' data locally.
(news.financializer.com). As
reported in the news.
Tagged under job creation, data localization topics.