financetom
Economy
financetom
/
Economy
/
US senators urge India to soften stance on data localisation
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US senators urge India to soften stance on data localisation
Oct 13, 2018 6:35 AM

Two US senators have called on Prime Minister Narendra Modi to soften India's stance on data localisation, warning that measures requiring it represent "key trade barriers" between the two nations.

In a letter to Modi dated Friday and seen by Reuters, US Senators John Cornyn and Mark Warner - co-chairmen of the Senate's India caucus - urged India to instead adopt a "light touch" regulatory framework that would allow data to flow freely across borders.

The letter comes as relations between Washington and New Delhi are strained over multiple issues, including an Indo-Russian defence contract, Indian tariffs on electronics and other items, and India's push to purchase oil from Iran despite upcoming U.S. sanctions.

Global tech companies including Mastercard, Visa and American Express have been lobbying India's finance ministry and the Reserve Bank of India to relax proposed guidelines that mandate all payment data on domestic transactions in India be stored inside the country by October 15.

The letter is most likely a last-ditch effort after the RBI told officials at top payment companies this week that the central bank would implement, in full, its data localisation directive without extending the deadline or allowing data to be stored offshore as well as locally.

"We see this as a fundamental issue to the further development of digital trade and one that is crucial to our economic partnership," the U.S. senators said in its letter.

Modi's office did not immediately respond to an email seeking comment.

First Published:Oct 13, 2018 3:35 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US weekly jobless claims rose moderately during last week of September - Haver Analytics
US weekly jobless claims rose moderately during last week of September - Haver Analytics
Oct 6, 2025
WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits increased marginally during the last week of September, data from Haver Analytics showed, pointing to a still low level of layoffs even as hiring has stalled. Initial claims for state unemployment benefits increased to a seasonally adjusted 224,269 for the week ended September 27 from 218,589 in the...
US holiday online sales growth to slow on economic uncertainty: Adobe Analytics
US holiday online sales growth to slow on economic uncertainty: Adobe Analytics
Oct 6, 2025
(Reuters) -U.S. holiday online sales are expected to grow at a slower pace this year, according to projections by data firm Adobe Analytics released on Monday, as macroeconomic uncertainty continues to pressure consumer spending. Adobe expects U.S. online sales to rise 5.3% to $253.4 billion between November 1 and December 31, this year, compared with an 8.7% rise last year. Cyber...
US Dollar Rises Early Monday; Focus on Government Shutdown, FOMC Minutes This Week
US Dollar Rises Early Monday; Focus on Government Shutdown, FOMC Minutes This Week
Oct 6, 2025
07:53 AM EDT, 10/06/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Monday to begin a relatively quiet week of economic data releases, with a focus on the minutes of the Sept. 16-17 Federal Open Market Committee meeting being released Wednesday. The US government shutdown continues to impact the scheduling of government-produced data releases. Another...
Factbox-US holiday sales growth to be muted this year, forecasts show
Factbox-US holiday sales growth to be muted this year, forecasts show
Oct 6, 2025
(Reuters) -U.S. retailers brace for a subdued holiday shopping season this year as the economic fallout from President Donald Trump's erratic trade policies leaves shoppers more cautious about buying extravagant gifts. The holiday selling season spans over three months from November to the end of January, including key shopping days such as Thanksgiving, Black Friday, Cyber Monday and Christmas, which account for...
Copyright 2023-2026 - www.financetom.com All Rights Reserved