Traders body Confederation of All India Traders (CAIT) has urged the IT Ministry to take immediate steps to ensure data security for consumers and businesses in India in the wake of reports that social networking giant Facebook had data sharing partnerships with several handset makers.
In a communication sent today to IT Minister Ravi Shankar Prasad, CAIT urged the senior leader to take immediate steps to deal with this crucial issue of cyber security.
“Sharing of such data may result in consolidation of business in few hands as data analytics could easily give information about the nature, preferences, capacity and capability, trends, purchase or sale behaviour of person or persons or trade groups,” CAIT said.
It added that this may also lead to leakage of confidential information about particular business or businesses. “Based on such analyses of data, companies will attack trade or businesses in a most strategic and organised manner to control markets,” CAIT cautioned.