NEW DELHI - India will examine concerns raised by foreign technology companies around stringent rules to store data locally, the government said on Tuesday, an issue that has upset firms such as Mastercard and also irked the U.S. government.
The Reserve Bank of India last year mandated foreign payment firms must store their payments data only in India to allow supervision. Mastercard CEO Ajay Banga joined Monday’s meeting via video conference, the government statement said. “We’ll also push for free flow of data across borders, not just to help American companies, but to protect data and secure consumers’ privacy,” U.S. Secretary of State Mike Pompeo said last week ahead of his visit to New Delhi this month.Other than RBI rules, India has also drafted an overarching law on data storage which calls for all personal data determined to be critical to be processed locally. The government will be the one to determine categories of such data.
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