Technology is driving businesses to do more at a lesser time. This has created an additional problem for organisations. Monitoring and managing enormous amounts of data that are being created and exchanged across multiple mediums is not easy. Piles of data sitting on the servers are waiting to get exposed to a host of cybersecurity attacks such as data breaches and ransomware incidents. Data privacy and protection have become critical, given the mountain of sensitive data out there in cyberspace. 

India is home to the second largest base of internet users in the world. As per IBM’s most recent report, ‘Cost of a Data Breach Report 2022’, India ranked 14th globally in terms of the average cost of a data breach. A well-stitched data governance framework with processes in place for classifying data, collecting, and handling sensitive data is critical. Legal considerations also come into play when businesses deal with data across geographies. Varying legal clauses and interpretations for different markets have become a challenge for businesses operating globally. India’s current data privacy regime is limited to obtaining a data subject's prior consent.

Click the icon to read more detailed views