Cos operating in India must abide by local regulations: Paytm Founder
Joining the debate on data localisation, Paytm Founder and CEO Vijay Shekhar Sharma on Monday said companies operating in India should abide by rules and regulations laid down by the country, and also have an obligation to protect data of citizens.
Startups in India are at an "incredible inflection point" Sharma said, adding there is no dearth of funds for startups focussed on solving real-world challenges with their innovative approach.
"I am all for protecting our citizen data. Let it be clear if you are operating in this country, you are supposed to be abiding by laws and regulations of this country. You can't say my court is in another country...," Sharma told PTI when asked about regulations proposed in the digital space.
Indian companies such as Reliance Industries have been votaries for storing and processing of data generated of Indian users within the country while foreign firms want freedom to store data outside the country as well.
The chief of the fintech player also ..