- India is the sixth leading country in the GDPR readiness index
- Any companies that are processing data of people from the EU will have to comply with the GDPR
- The GDPR was introduced to protect the privacy of EU residents
Nearly 65% Indian companies are prepared to comply with the European Union (EU)’s General Data Protection Regulation (GDPR), according to a report by technology conglomerate Cisco.
According to the Cisco 2019 Data Privacy Benchmark Study, India is now in the sixth leading country in the GDPR readiness index as it has met most or all of the requirements.
“India has greatly improved upon its GDPR readiness with its fast evolving data privacy ecosystem, which is primarily because of a collaborative approach by the government and private organisations,” Vishak Raman, Director, Security, at Cisco, said.
While speaking about the results, Raman added that the GDPR-ready organisations have reported lower rates of data breaches, fewer records impacted in security incidents, and shorter system downtimes. Further, these companies are also less likely to experience high financial losses during a data breach incident.