APN News

  • Sunday, July, 2024| Today's Market | Current Time: 03:45:11
  • Commerce and Industry Minister Piyush Goyal on tuesday took part in the virtual meeting of the G-20 Trade and Investment Ministers.
    Making interventions during the meeting, he called upon G-20 to play a leadership role in crafting a pathway to recover from COVID-19.
    He said, one of the key lessons for all countries is the need to strike the right balance between their external and internal economic policies, with a view to ensuring balanced and sustainable development.
    He said that India stands ready to engage constructively with all G-20 Members to push an agenda that is inclusive and development oriented.
    Mr Goyal announced that India is not in a position to accept the concept of Data Free Flow with Trust, DFFT.
    He said that India is of the view that the concept of DFFT is neither well understood nor is comprehensive enough in the legislation of many countries.
    Moreover, in view of the huge digital divide among countries, there is a need for policy space for developing countries who still have to finalize laws around digital trade and data.
    He said, data is a potent tool for development and equitable access of data is a critical aspect for us.
    Mr Goyal said, India, like many other developing countries, is still in the phase of preparing a framework for its data protection and e-commerce laws.
    He said, moreover, the existing regulations on which DFFT is sought to be premised, such as uninhibited cross border flow of data, are grossly inadequate to address our concerns on data access.
    He added that this could further aggravate the digital divide. The Minister said that India along with some other G-20 Members, did not participate in the Osaka track last year due to our reservations.


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