Stressing that Indians must have complete control and ownership of data, RIL Chairman Mukesh Ambani said: "Necessary steps will have to be taken to migrate the control and ownership of Indian data back to India ─ in other words, Indian wealth back to India."
His comments come in at a time when data localization debate is raging in the country. "India’s data must be controlled and owned by Indian people ─ and not by corporates, especially global corporations," he said.
Reiterating that data is the new oil today and is the new wealth, such steps will help India succeed in the data-driven revolution. Data colonisation is as bad as the previous forms of colonisation. Similarly, data freedom is as precious as the freedom we won in 1947.
Watch: What is Data Localisation
The government is mulling a draft data-security law that requires data centres for all companies be physically located within India. There is also an e-commerce policy that seeks the storage of customer data in India under consideration.
Full text: RIL Chairman Mukesh Ambani's address at Republic Summit 2018
"Fundamentally, I am a big believer in the power of all of us together rather than a power of few. I think that will differentiate China and India in the long-run. My belief is that a decentralised empowered world where everybody being equal is better off than where few people are in power. That is true for data world," he said.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
