New Delhi, April 2 (IANS) In an era where data is both an asset and a liability, company boards are urged to prioritize data privacy. According to a new report by Deloitte–CII, titled ‘The DPDP act and enterprises in India: Privacy for the board,’ it is essential for boards to integrate risk management and oversight to navigate data privacy complexities.
The report highlights the critical importance of data privacy in today’s digitally-driven world, focusing on the impact of the Digital Personal Data Protection (DPDP) Act on enterprises in India. Tarun Kaura, Partner and Leader-Cyber, Deloitte India, emphasized the need for companies to not just comply with regulations but to embed privacy into their operations.
Strategic investments in privacy-enhancing technologies and continuous monitoring and education are crucial for companies to safeguard individual rights and build consumer trust amidst digital transformation. The report discusses the provisions of the DPDP Act, its implications for enterprises and boards, and the board’s role in ensuring compliance and privacy culture.
The publication offers strategic insights for boards to navigate the evolving data privacy landscape, including a privacy-specific reckoner and guidance for maintaining vigilance in data and privacy matters. It emphasizes self-awareness, governance, risk management, and proactive compliance as top imperatives for boards in the current data privacy landscape.
Kaura noted, “As data privacy becomes integral to consumer trust and enterprise success, boards must champion a privacy-first approach that secures data ethically while unlocking its value sustainably.” The report encourages boards to take a proactive approach towards data privacy and compliance to stay ahead in the rapidly evolving digital landscape.
