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- India plans to allow the transfer and storing of personal data in some countries overseas.
- The move marks a truce for global companies, including Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google, Amazon.com Inc (NASDAQ: AMZN), and Meta Platforms Inc’s (NASDAQ: META) Facebook.
- The government will “notify such countries or territories outside India to which a data fiduciary may transfer personal data,” according to the draft Digital Personal Data Protection Bill.
- An earlier version of the bill had sought to severely restrict the transfer, processing, and storage of data overseas.
- The critical piece of proposed legislation comes as digitization thrives in the country of 1.4 billion, where usage of smartphones and apps is zooming, Bloomberg reported.
- The Digital Personal Data Protection Bill of 2022 requires consent before collecting personal data.
- It proposes stiff penalties of as much as ₹5 billion ($61.2 million) on persons and companies that fail to prevent data breaches.
- The new draft bill proposes setting up the Data Protection Board of India, which will monitor and determine non-compliance and impose penalties.
- Companies like Amazon and Meta will have to appoint data protection officers based in India to represent them.
- The draft bill also requires companies like the parent entities of Google and Facebook to be accountable to a “consent manager.”
- The personal data of children cannot be obtained or processed without parental consent.
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