That is with the existing players from the industry such as fintech, e-commerce, healthcare or insurance bringing out new products and services in the market.Hence, to sustain competition in the market, NITI Aayog came up DEPA framework to enable SMEs to utilise the existing data that is available in silos.This has affected small scale enterprises to survive in such a tech-savvy marketplace.Currently, data is in control of the giant companies who have captured most of the marketplace all over the world and make profits more than the GDP of a few countries.DEPA enables consented sharing of consumer data from Data Providers (entities which collect or generate consumer data) to Data Consumers (other entities which wish to provide a service or a product based on the data) via Consent Managers.The data is shared through a third-party entity, namely the Consent Mangers (CMs) that individuals provide consent as per an innovative digital standard for every granular piece of data shared securely.It is a joint public-private effort (launched by NITI Aayog in 2020) for an improved data governance approach that creates a digital framework allowing users to share their data on their own terms.In this regard, the launch of India’s Data Empowerment and Protection Architecture (DEPA), a consent management tool, has generated both excitement and concern among stakeholders.ĭata Empowerment and Protection Architecture (DEPA).The article put emphasis that India must ensure that its digital strategies and data governance are inclusive and conducive for sustainable development as the nation evolves to embrace technology and digitalisation to drive economic growth.
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