Data policy key to future
Tata Sons chairman N. Chandrasekaran on Saturday said post-Covid-19, the new world order offers limitless opportunity for India but for the country to be ready to participate in it, there is a need to establish regulatory standards on data and taxation in general.
If the idea “that the 2020s belong to India” has to be realised, industry should be bold and start visioning all projects at scale, while there is also a need for a new focus on talent, enabling data and bandwidth”, he said at the 93rd annual convention of Ficci.
He added that the government should also establish the regulatory standards that are required on data privacy, data residency, data localisation and taxation in general.
He stressed on the need to reimagine “the whole technology blueprint nationwide” and make technologies such as robotics and AI (artificial intelligence) become part of the mainstay of manufacturing.
Two crucial factors
Microsoft CEO Satya Nadella said modernisation of the public sector through the use of technology and public-private partnership will be crucial to post-pandemic recovery.
The CEO said these two factors would be crucial for the catch-up growth in the next 10 years.
“Some of the work that’s happening in India, whether it is the ID system or the banking APIs, it’s pretty enlightening,” he said.