An eight-person expert committee appointed by the Indian government has called for the creation of a new data regulator to oversee the sharing, monetization, and privacy of information collected online.
The committee's report says Facebook, Amazon, Uber, and Google are the beneficiaries of first-mover advantages and that many new entrants and startups in the online space face "significant entry barriers."
The committee said a new data regulator would ensure the rules are followed by all stakeholders, help level the playing field for businesses, and spur innovation, economic growth, and social wellbeing.
The rules proposed by the panel would govern the collection, analysis, sharing, distribution of gains, and destruction of data.
India already has legislation governing the use of personal data, and the report recommends a bill for anonymized personal data as well.
Among other things, the report recommends the creation of a new "data business" classification for firms collecting, processing, storing, or otherwise managing data.
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