NEW DELHI : Crippling compliance costs arising from upcoming data regulations could sink many small technology startups, experts aware of the rules said, underlining concerns raised by industry organizations.
The central government’s IT Rules, the upcoming Personal Data Protection bill and the Reserve Bank of India’s payments data storage rules are expected to involve significant compliance costs.
The US India Strategic Partnership Forum on 23 April wrote to MeitY that the new compliance requirements will require “Extensive capacity building, new operational models, product redesign and personnel on boarding”, seeking more time for compliance.
[Via]
