Vastavam web: Two U.S. senators have called on Prime Minister Narendra Modi to soften India’s stance on data localisation, warning that measures requiring it represent “key trade barriers” between the two nations. In a letter to Modi dated Friday and seen by Reuters, U.S. Senators John Cornyn and Mark Warner – co-chairs of the Senate’s India caucus that comprises over 30 senators – urged India to instead adopt a “light touch” regulatory framework that would allow data to flow freely across borders.
Global payments companies including Mastercard, Visa and American Express have been lobbying India’s finance ministry and the Reserve Bank of India to relax proposed rules that require all payment data on domestic transactions in India be stored inside the country by October 15. “We see this (data localisation) as a fundamental issue to the further development of digital trade and one that is crucial to our economic partnership,” the U.S. senators said in the letter that has not been previously reported.