ET Awards: Protection of data is not a trade barrier, says Vineet Jain

It is now traditional for the ET Awards to bring together business leaders and policy makers. At last year’s awards, there was much discussion about the successful implementation of the Insolvency and Bankruptcy Code, and of the Goods and Services Tax.

These reforms appear to be bearing fruit. The bankruptcy code is having a profound impact on India’s corporate landscape. And last month, GST collections crossed Rs 1 lakh crore, a level which is considered appropriate. That should please the architect of these measures — Union Finance Minister Arun Jaitley, who is in Mumbai after many months.

This government has also taken a strong stand on what is turning out to be one of the world’s most sought after resources: information. I hope our draft data protection law will bring in much-needed safeguards for the data of Indian citizens. These measures do not mean we are erecting trade barriers, as some have accused India of doing. They are a legitimate means of securing this valuable asset.


India’s rise in the global Ease of Doing Business rankings — 77 amongst 190 countries — is impressive, but we should strive to enter the top ten over the next 3-4 years. Efforts to improve ease of doing business are a legitimate demand from the business community. It’s a core part of good governance.

(Edited extracts from Mr Vineet Jain’s speech, MD Times Group)