According to data released by the Department of Industrial Policy and Promotion (DIPP), Indian IT’s core competencies and strengths have attracted significant investments from major countries. The computer software and hardware sector in India attracted cumulative Foreign Direct Investment (FDI) inflows worth US$ 32.23 billion between April 2000 to June 2018.

E-Commerce has transformed the way business is done in India. The ongoing digital transformation in the country is expected to increase India’s total internet user base to 829 million by 2021 from 560.01 million as of September 2018. India’s internet economy is expected to double from US$125 billion as of April 2017 to US$ 250 billion by 2020, majorly backed by e-commerce. India’s Ecommerce revenue is expected to jump from US$ 39 billion in 2017 to US$ 120 billion in 2020, growing at an annual rate of 51 percent, the highest in the world.”

However, like any other industry sector of the economy, legal and regulatory aspects play a critical role in the overall business ambience of the sector. The IT ITeS industry is going through a plethora of changes when it comes to governing laws etc. While on one hand, personal data protection is making headlines everywhere, on the other extreme, the ecommerce sector is going through policy fevers keeping in mind the proposed policy which seems to be a double-edged sword! To add on are the new age complications that are coming up with AI and Blockchain like concepts.

The Lex Witness 7th Annual Edition of The Information Technology Legal Summit scheduled on 5th July at Shangri-La Hotel, Bengaluru brought together legal vanguards of the Indian IT Sector as speakers addressing an array of topics via panel discussions to analyse, interpret and strategize the current and future response to legal, regulatory, compliance and IPR challenges.