May 25, 2018, the deadline for compliance with new EU data protection law is closer than ever before. The uniqueness of GDPR is due to its massive coverage across industries and its global applicability. Being an ambitious regulation, GDPR intends to empower citizens on who can and from where can their private information be accessed. Looking at it from Indian IT industries readiness perspective, there exists a great challenge to meet May deadline as a large number of IT organizations in India are not GDPR compliant still.
Indian IT industry, backed by its enormous experience and ever growing talent pool of diverse skills is strategically positioned to take lead on this global opportunity and pioneer once again. However, to achieve this feat, organisations / industry is expected to invest a premium on Technology, Consulting and Compliance aspects. To start with, data encryption to be made as priority, carry out pseudonymization on every business applications and so on.
Impact of non-compliance to GDPR may affect the prospects of Indian IT industry as global competitors vie big time to expand their horizon and brick wall customers, the cost of compliance also proves to be another source of worry as it will drive up the cost of services offered for clients. On the brighter side, the benefits of being GDPR compliant outweighs the shortcomings and will have immense business advantages and returns. However, the Indian IT industry needs to position itself for full compliance and ascendancy proactively.