Bengaluru: The upcoming data protection laws in India should not be viewed as a cost to enterprises but a critical element of the building blocks of the future of technology, the chief of India’s second largest IT firm has said.
“If you see data regulation guidelines across different jurisdictions, the main objective is to protect individual privacy and protect some level of intellectual property,” Infosys NSE 0.43 % CEO Salil Parekh said at the Carnegie India Global Technology Summit 2021 on Tuesday. “I think in India also, regulations will be along those lines. It’s not to be viewed as a cost, but it should be viewed as a critical element.”
The incoming regulations will also lead to more work for companies as global enterprises will look to ensure compliance, he said. Infosys is already conducting some programs, through which global firms are looking to become compliant with local regulations.
According to Parekh, India is well placed in terms of hard infrastructure for technology, with tremendous advances in telecommunications and connectivity, and data centre capabilities. These came to the fore when the pandemic struck and companies needed to work remotely to service their clients and keep employees safe.
When queried on whether the gains of digital transformation are transient or will outlive the pandemic, the Infosys CEO said that the company’s clients have realised that there is a faster way for them to connect with employees, customers and suppliers, which ultimately improves efficiency.
“We have an opportunity over the next several years where everybody’s going to reach that objective (of transforming digitally),” Parekh said. “There was tremendous acceleration as everyone started doing that (digital transformation), but the growth will continue for some time.” (Economic Times)
