The 7th Annual Edition Of The Information Technology Legal Summit 2019
After having completed 6 successful editions, Lex Witness proudly presents The Lex Witness 7th Annual Edition of The Information Technology Legal Summit 2019
The India IT ITeS Sector 2.0 – A Bagful of Worries for The General Counsel?
According to The Indian Brand Equity Foundation;
“The global sourcing market in India continues to grow at a higher pace compared to the IT-BPM industry. The global IT & ITeS market (excluding hardware) reached US$ 1.2 trillion in 2016-17, while the global sourcing market increased by 1.7 times to reach US$ 173-178 billion. India remained the world’s top sourcing destination in 2016-17 with a share of 55 per cent. Indian IT & ITeS companies have set up over 1,000 global delivery centers in over 200 cities around the world.
The internet industry in India is likely to double to reach US$ 250 billion by 2020, growing to 7.5 per cent of gross domestic product (GDP). The number of internet users in India is expected to reach 730 million by 2020, supported by fast adoption of digital technology, according to a report by National Association of Software and Services Companies (NASSCOM).
E commerce market in India is set to grow at 30 per cent annually to hit US$ 200 billion gross merchandise value by 2026. Digital payment in India is expected to grow from 32 per cent in 2013-14 to 62 percent in 2017-18 in terms of volume of transactions.
The public cloud services market in India is slated to grow 35.9 per cent to reach US$ 1.3 billion according to IT consultancy, Gartner. Increased penetration of internet (including in rural areas) and rapid emergence of e-commerce are the main drivers for continued growth of data centre co-location and hosting market in India.”
While all of this seems very fascinating as always, there is indeed a dire need to look at the greys that the industry is going through. Right from the labour law tantrums the sector faced recently to the mammoth of a EU – GDPR readiness that the industry is grappling through, there are quite a few cross roads in motion that need to be addressed to with sound legal and regulatory minds at work. Aside, the impact of Union Budget 2018 over and above forthcoming Visa and Consumer Law changes are further adding ons to the trail. Machine learning, Artificial Intelligence, Cloud and much more!
The Lex Witness 6th Annual Edition of The Information Technology Legal Summit 2018 focused panel discussions were;
- Regulatory Rifles – The Rage Continues?
- Data Protection – India’s Journey & Global Benchmarks
- IPR Talks – Protecting the Intellect Profitably!
- Sweet Talks – e-Commerce & Fintech Focus
- The Future – Tomorrow’s Technology, Today!
It is amidst such interesting scenarios that The Lex Witness 6th Annual Edition of The Information Technology Legal Summit 2018 was scheduled on 8th June 2018 at The Lalit Ashok, Bengaluru which brought together experts from several domains to share their thoughts and opine on various success mantras in today’s compliance conscious India Inc.