| | JANUARY 20258INDIA'S TECH INDUSTRY REACHES $254 BILLION, GROWS 3.8 PERCENT IN FY24The Ministry of Electronics and Information Technology (MeitY) detailed the proposed Digital Personal Data Protection (DPDP) Rules aimed at safeguarding citizens' rights as per the Digital Personal Data Protection Act, 2023. The Ministry announced that public feedback on the draft rules is available until February 18, 2025, through the MyGov portal.The DPDP Act and the proposed regulations are designed to keep pace with swift developments in digital technologies, it stated. The Data Protection Board, designed to operate entirely digitally, will allow citizens to file complaints and settle disputes online without needing to be physically present. Individuals will be made aware of their rights and enabled to control their personal information via multilingual digital platforms.Alongside online feedback, the Ministry intends to conduct organized consultations with civil society, industry, and government stakeholders to enhance the regulations. The completed regulations will be presented to Parliament for endorsement.The proposed regulations seek to safeguard individual rights while avoiding disruptions to current digital activities. Organizations will have sufficient time to adhere to the new regulations, facing minimal compliance challenges. Data handling founded on previous consent will be permitted to proceed, with notifications provided to individuals, guaranteeing that their legal rights are maintained.To protect children's personal information, Data Fiduciaries are required to establish procedures for acquiring verifiable parental consent. Moreover, startups will gain from lowered compliance obligations, while large Data Fiduciaries will face more stringent requirements. India's technology sector has reached a valuation of $254 billion, increasing by 3.8 percent (year-on-year) in FY24. The technology industry hired 5.43 million workers, experiencing a growth rate of 1.1 percent in FY24, emphasizing skills in Generative AI, cloud technology, and cybersecurity.The expansion into tier 2 and 3 cities is seen as critical to bridging talent shortages, according to Grant Thornton Bharat's '2025 Tech Trends Report'. "As far as India is concerned, technology companies will need to navigate the business growth challenges as well as seize the new opportunities from Generative AI and new tech in 2025", said Raja Lahiri, Partner and technology industry leader, Grant Thornton Bharat.The nation's emphasis on GenAI and Engineering Research and Development (ER&D) services fueled a 7.4 percent increase, with aerospace, defense, and automotive spearheading digital engineering initiatives. Additionally, the report indicated that India continues to be a center for technological innovation with 1,700 global capability centers (GCCs), supported by investor enthusiasm and a robust start-up environment."India is expected to continue to dominate the global technology services market driven by the availability of massive tech, engineering talent as well as high-quality business and digital transformation impact on global clients", Lahri added.In spite of obstacles, the industry's extensive talent resources and increasing integration of generative AI, SaaS, and digital transformation initiatives prepare it for a gradual rebound in 2025. The report indicates that Indian firms should build and nurture a culture of superiority in quality, innovation, and customer experience to dominate the tech industry in the coming year. MEITY UNVEILS DRAFT RULES TO STRENGTHEN DIGITAL PERSONAL DATA PROTECTIONJUST IN
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