Transcript

Thank you so much. So next decade is going to define how data flows are going to reshape our economies. You know, action and trust with the the DPDP act in place, we stand at pivotal moment. But are we ready to take advantage of this as many of you have heard like some of us are still thinking what to do whether we should wait more or we should once rules are finally announced then we are going to take certain actions. So on this we have when we are discussing this topic 2030, the question is whether like we can really talk about the governance whether it's. Interoperability, whether it's the cross-border, data sharing or any other issues where like it's still a vision is required whether we are going to take action on this or not. So Kriti, I'll start with you. So the first question itself, like as I said, like many of us are still not so prepared, but in this aspect, you know like interoperability is something which is very critical essence for developing our businesses and particularly with regard to DPDP. And when you see like GDPR and other standard privacy rules like how you see how we are going to align in this context, in this scenario. Sure. Thank you. Niraj, sorry that your picture is not here, but you are popular enough. So everybody that's Niraj, DPO, Union Bank of India for us. And to answer the question, I think it's not just about GDPR or DPI or PPI. I think we already discussed about it. There are other regulations which have been pre-existing and which have been guiding us. There have been policies I personally have been guided by. The global standards because I have a very strong team of senior people and colleagues and this is not a ME job, this is a WE job. And just to digress from what you asked, I think here we are a handful of people here today. But this is such a strong commanderie and if at all we can help each other build this probably under this brand or any other brand, just to ask the right question because as I said, we are the first set of DPOs in India. So we are The Pioneers and torch bearers of what what we are doing, how we are perceiving things and there are footprints which we are building. So coming back to the point, it's very important that you also see the global footprints and the standards. I have personally very closely worked with data ingestion and cross-border border data transfer. So it's very important that you are aware about not just. The DPA or the local laws, but also about the laws and standards and processes of the other country and their commander with our country. That is also very important because there are data adequacy measures, Privacy Shields, which most of the times I think U, us have invalidated it, but I think you've Japan has privacy shield, which they honor and it makes things much more. Easier because there is a channel which opens so there is a lot of homework and I always say this because I'm very pro homework. I make sure that I know my thing when I am asked the question because I have witnessed ED (Enforcement Directorate) raids. And so interoperability is something which we cannot deny because we are all about data monetization and that will not stop. Just to give an example, Apple sells privacy as an element or a strong feature of its Product. What an irony. So we are paying for it and we are also a product. So that's that's how I see it. I will talk more about it as we speak. Thank you. Great. So build on that Mister Bharti would like to know like there we are talking about also this cross-border data transfer as and Kriti India has the scale tech talent and now this privacy law. Can we become a trusted data hub by 2030? Whether like it's only about? Our neighboring countries can we can think of we can become a global hub by 2030. Yeah, I think we can become anything we want. But the the the thing see, I come from a legal compliance background. The only point is if you're doing it, do it right. And also I have, I have seen a lot of content on media saying that India does not innovate. India just repeats things. They, they just believe that they can, you know, twist the policy and then they can. So although it's a topic for another panel, but I do feel definitely India has the potential. We have the right kind of. Skilled labor, we have the manpower there is, you know, the the whole idea of brain-drain has been shut down thanks to Mr. Trump. So we very much have the right kind of skilled people here is just the matter of opportunity. And it has to be clubbed in consonance with the right kind of sandboxing. Very important. See. We should not be the Guinea pigs. And when I say we, it's the citizens. And that's the whole idea about DPDPA, right? It's about trust. It's about protecting the customers, protecting the users, it's about consent. It's also that there are. Exemptions to it, but. With the right vision for the right vision for the right intent and that is why IT Act has been somewhere been redone in light of data protection. So absolutely we can be what we want to and India is a very strong nation. Emotionally. And. Financially as well, if we ensure that we are looking at the right purpose. So the best and my favorite word when I draft a policy specific purpose, right, we have to stick to the same agenda as we move forward as Indians. OK, now so.