How will the EU data privacy law affect Indian companies?
The General Data Protection Regulation (GDPR), effective from May 25, will require Indian firms dealing with EU to provide justification of the collected data. The regulation which affects IT majors like Infosys and Tata Consultancy Services will also require e-commerce sites or payment gateways to change their terms. Non-compliance will cost companies $23.3 million or 4% of their annual turnover.