Did you ever get a taste of saccharine in your mouth while just reading a news story? This one had that that effect on me. Press Trust of India (PTI) reports:
Walmart CEO Doug McMillon has written to Prime Minister Narendra Modi on issues related to data privacy and regulatory stability for the e-commerce sector and has urged him to reduce the number of licences and permits for the opening of new stores.
“We share the Indian government’s concern about data privacy for Indian citizens and their ability to control the use of their personal data. Flipkart and PhonePe have invested in local data infrastructure to ensure Indian can benefit from the growth of the data economy in India,” McMillon said.
Walmart, which has selected India as a hub for its global retail technology innovation, believe it is important to allow business appropriate means to transfer data across borders.
“We understand regulator have concerns and are happy to work with your government as specific policies are being considered to ensure details of the policy do not unnecessarily have a negative impact on the industry,” it said.
Read more on Business Standard.