Traditionally not deemed as a ‘regulated’ industry, the Information Technology (IT-ITeS) is now among the key ones impacted by the changing and enhanced regulatory environment. Today, the sector is grappling with laws around stricter immigration, data localization and anti-corruption, as well as data governance and privacy. In addition to ensuring compliance with new and improved governance reforms, IT-ITeS companies need to tackle challenges around data theft, cybercrime and recruitment frauds.
These emerging trends and recent legislation related to governance are simultaneously creating compliance obligations and business opportunities for IT-ITeS companies in India. In line with this scenario, listed below are some key developments impacting the governance and compliance environment that the companies in this sector need to address on priority.
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