SME Times News Bureau | 19 Sep, 2018
The regulation on data protection and privacy should adopt a risk-based
approach and provide certain relaxations and exceptions for micro, small and
medium enterprises (MSMEs) under specific circumstances, suggested a recent
ASSOCHAM-PwC joint study.
"In Indian context, it is also important to ask questions on the
applicability and impact of any such data protection regulation on small and
medium businesses (SMBs)," said the study titled, 'Privacy in the data
economy,' jointly conducted by The Associated Chambers of Commerce and Industry
of India (ASSOCHAM) and global professional services firm
The report stated that stringent regulations may deter MSMEs due to the
high costs and technology investments necessary for compliance. However, in the
new age economy, a number of small enterprises are capturing and processing
large volumes of data.
It further said that certain categories of private processing, such as
processing carried out by not-for-profit organisations or charitable
institutes, may have to be dealt with categorically and provided with certain
The ASSOCHAM-PwC joint study suggested that privacy laws should also
cater to specific sectors such as healthcare, telecom, banking and finance to
address various nuances in each sector.