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In the dynamic and global business landscape, technological advancements, including cryptocurrency, blockchain, and artificial intelligence, have revolutionized traditional paradigms, fostering innovative business models. In India, where information technology plays a pivotal role in the economy, the government has responded to these changes with legislative adaptations, reflecting the need for an agile and transformative technology law and policy framework.

Future Landscape:

MeitY is actively working on finalizing the Digital India Act, a comprehensive legislation expected to replace and repeal existing technology laws and regulations. This underscores the government’s commitment to aligning the legal framework with the evolving needs of the technology law and policy space.

Conclusion

As India adapts to the changing technological landscape, the legal framework continues to evolve. The government’s proactive approach in amending and introducing regulations reflects a commitment to fostering a secure and innovative digital environment.

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Information Technology Act, 2000 (IT Act): The IT Act, enacted during the advent of the internet in India, serves as the principal statute governing technology law. Over the years, the Ministry of Electronics and Information Technology (MeitY) has introduced subordinate legislation under the IT Act to regulate emerging technologies. Key regulations include:

Intermediary Guidelines and Digital Media Ethics Code (2021): Applicable to intermediaries in India, these rules categorize intermediaries and prescribe specific compliances, notably addressing online gaming.

The Indian Computer Emergency Response Team Rules, 2013 (CERT-In Rules): Governing CERT-In, the national agency for responding to computer security incidents, these rules empower CERT-In to issue guidelines and advisories for cybersecurity.

Reasonable Security Practices and Procedures and Sensitive Personal Data or Information Rules, 2011 (RSP Rules): Predominantly regulating the collection, storage, and processing of personal and sensitive data by corporate entities, these rules set the standard for data protection.

Key Highlights

  • Various regulatory bodies, such as the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and Insurance Regulatory and Development Authority of India (IRDAI), have introduced sector-specific regulations.

    • RBI (Outsourcing of Information Technology Services) Directions, 2023: Aimed at mitigating risks associated with outsourcing IT services, these directions apply to RBI-regulated entities.

    • IRDAI (Insurance Web Aggregators) Regulations, 2017: Governing insurance web aggregators, these regulations oversee interfaces providing information and price comparisons.

    • IRDAI Information and Cyber Security Guidelines, 2023: Issued to ensure information and cyber security for insurance intermediaries, reflecting the evolving cyber threat landscape.

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