The new rules allow for a staggered implementation road map, giving companies, data fiduciaries, data principals, and other stakeholders up to 18 months to comply with the administrative guidelines under the DPDP Act.
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
The stipulation that new front-end stores will have to be set up will impact M&A in the sector.
Sources estimate there could be about 60 applications at the department of industrial policy and promotion for up to 49 per cent foreign direct investment in single-brand retail.
No one's quite sure on the retail FDI issue in this regard, after the new Rajasthan and Delhi governments cancelled the approvals given by their predecessors
The move is likely to hit Bharti-Walmart, the 50:50 joint venture between the US' Walmart and Sunil Mittal-led Bharti Group that operates cash-and-carry outlets in India, the most.
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