European Business Wallet Proposal… takes cue from India

On November 19,2025, a major EU proposal has been made to simplify the EU regulations in many areas. It has proposed 15 amendments to GDPR which we are separately taking note of. Additionally it has made changes to Data Act which was a very recent regulation as well as the Artificial Intelligence Act. It appears that EU has realized that its current approach of very strict regulation does not go with the universal approach of  USA and  India to give more freedom to businesses to promote innovation. Perhaps this is a timely move not to let EU become a technologically archaic society.

One of the measures that we need take note of is the Business Wallet proposal  and published a “Digital Rule Book”. The objectives of these changes are captured in this “Press Release”

This proposal is expected to  provide European companies and public sector bodies with a unified digital tool, enabling them to digitalise operations and interactions that in many cases currently still need to be done in person. Businesses will be able to digitally sign, timestamp and seal documents; securely create, store and exchange verified documents; and communicate securely with other businesses or public administrations in their own and the other 26 Member States.

One of the  simplification measures is to develop a unified platform for data exchange so that there would a “Single Digital Gateway” requiring authorities to re-use data already held in another member  state without repeated submissions by businesses. Indian approach of “Centralized eKYC”, “Account Aggregator” and “Consent Manager” as well as the UPI system and “Digital Locker”  follow similar principles and it appears EU wants to follow India in these innovative measures and perhaps improve upon them.

While we can feel proud that Indian initiatives have been validated and followed by EU, we can observe if there are improvements that we may adopt ourselves and amend our established systems including the Consent Manager system under DPDPA 2023. RBI and MeitY may closely monitor the developments.

Naavi.org will also monitor the proposals and try to identify lessons for India.

Some of these discussions could commence in our C.DPO.DA. program of December 20/21. If you have not yet joined the program, check here for registration.

Naavi

 

About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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