Global financial technology companies have reportedly sought an extension of the October 15 deadline
But some experts stated that the government should not allow firms to store data outside country
When governments build barriers to protect companies, then consumers suffer, growth stagnates, and the entire country falls behind the rest of the world
Technology firms worry the mandate would hurt their planned investments by raising costs related to setting up new local data centres
The RBI in April said the payment ecosystem in India had expanded considerably
US government is opposed to financial data localisation
Forcing companies to store data within India needs rethink