Enabling data flows can have a significant positive impact on the economy. Econometric modeling by McKinsey estimated that data flows alone could directly raise world GDP by 3 percent. For G20 economies, the benefits arising from unrestricted data flows could amount to USD2.93 trillion by 2025.
Furthermore, it is estimated that 60% of global GDP will be digitised by 2022, and data transfers have contributed: $2.8 trillion to global Gross Domestic Product (GDP); growing 45 times every ten years!
The Covid-19 pandemic has accelerated the digitisation of the economy, underscoring the importance of data utilisation and data flows to economic recovery and growth, and certain economies have embraced the concept of Data Free Flow with Trust.
Yet, despite all this, data-related policies and regulations across economies are increasing in restrictiveness, with the introduction of the notion of data sovereignty, and there being a greater divergence on data transfer requirements.
Salesforce and the US-India Business Council jointly bring to you a discussion by our expert panel on why this is happening, the importance of data flows to economies, and approaches that encourage regulatory cooperation and alignment that will build trust and confidence in cross-border data transfers.
Click here to register.