As one of the biggest changes to the internet in modern times, the General Data Protection Regulation (GDPR) changes everything. These new set of European Union (EU) data regulations will impact on anyone who is working with even a single EU citizens’ data. If that data is used in any unlawful manner or is not stored in a way that meets new GPPR standards, then the damage could be pretty significant. How, though, does GDPR impact on the rest of the world?
For example, how would a business in India need to worry about GDPR?
The reason is simple: GDPR will be applicable to any business wishing to hold EU citizens’ data. If you have any EU citizens within your customer group, then you will need to adhere to GDPR rules and regulations. A failure to do so can be quite significant: a fine of up to 4% of your turnover, or €20m, whatever is higher. As you might imagine, that is quite a lot of money to take for not meeting regulations outside of your own country.
Still, if you are to do business with an EU member in any way, you’ll need to consider this. Let’s take a look, then, at what potential impacts GDPR could have on an Indian internet-based business.
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When did GDPR come into action?
If you are going to start using any of these websites, then you will need to give them permission once again to hold your data. This time, though, you will get to be much more specific about how your data is used, and you will be given much fuller explanations as to why they want your data in the first place. This is very useful, and should make it a bit easier for you to trust and use these websites.
It’s important that you look to take this into account even if you have just a solitary EU citizen based on your list. As research from Findbettingsites shows, if they do not reside within the EU, if they are a member citizen of any part of the EU then they will be protected – even if they live outside of the EU now. For Indian companies, then, it is absolutely imperative that you understand how this would have an impact on you.
Since this is a data protection regulation unlike anything that came before it, it is essential that you take its requirements very seriously indeed.
How does GDPR impact on an Indian business?
The first thing that you will want to find out, then, is how this would actually come to hurt you in the first place. For example, you do not need to build an EU data controller system if you are not going to have any kind of EU interaction. If you target someone in the EU and collect and/or process information about them, then you will need to comply with the rules and regulations of GDPR in full. This is going to be quite a frustration, but the best thing that you can do is look to hire a data controller to help you deal with this. They can help you to start making better decisions on how you can adapt to GDPR, and make sure that you are ready to handle the coming changes.
Any business in India that has a target market in the EU, then, will need to be able to comply with GDPR. It really is that simple. If you are going to be taking part in this lucrative part of the world, then it’s recommended that you modernize your data control schemes. This might mean bring in a third party professional to help you better manage the wider experience.
Why does a European law impact on Indian business?
That might seem unfair, that the continental rules of a trade bloc have become back to impact you even though you are not based in the EU. However, this is not just Indian businesses that will be impacted: it’s any business. As one of the most powerful parts of the world trading industry, the EU naturally holds a lot of sway and capital. For that reason, a lot of businesses outside the EU are happy to try and adjust to meet the needs set out by the EU. If they don’t want to give up valuable trading links within that part of the world, they must adapt.
This is why many companies, including those in India, have agreed to not limit these changes to those in the EU alone. Therefore, if you are going to give those new data protections to your EU customers, most are simply upscaling and including it for all of their customers. It’s going to be a good thing in the long run, so don’t feel like it’s going to be a huge burden on your business.
You will be able to benefit from making this call, and you will see that your business becomes more transparent and trustworthy as a result. If you are worried that you might not meet EU GDPR regulations, then you should look to bring in a data controller as soon as you possibly can.
With the help of someone else helping you to understand where you might meet and not meet GDPR regulation, you’ll be far more likely to succeed. So, take all of this into account: if you wish to keep improving in-house data protection standards, it would make sense to adapt to the new demands placed on you by GDPR.