India's Digital Personal Data Protection (DPDP) Act is transforming how businesses collect, use, and protect user data. In a recent episode of the AI on Air podcast, Abhinav Parashar, CEO and co-founder of Digio, joined host Priya Dayalani to discuss the law's implications for consumers, enterprises, and the broader digital economy.
Parashar highlighted that the DPDP Act aims to balance innovation with privacy rights, requiring companies to obtain explicit consent before processing personal data. This shift, he noted, will impact everything from customer relationship management to targeted advertising, pushing businesses to adopt more transparent data practices.
For consumers, the law empowers individuals with greater control over their data, including the right to access, correct, and erase personal information. Parashar emphasized that this could increase trust in digital services, potentially accelerating digital adoption in India.
On the business side, compliance will necessitate changes in data handling processes and may increase operational costs. However, Parashar argued that it could also create new opportunities for companies offering privacy-enhancing technologies. Small and medium enterprises, he warned, may need support to adapt without stifling innovation.
The conversation also touched on the impact on India's digital economy, which relies heavily on data flows. Parashar suggested that while the DPDP Act sets clear rules, its implementation will be key to ensuring India remains competitive globally. He called for continued dialogue between regulators and industry to refine the framework.