Towards a Data Economy:

An enabling framework
WHITE PAPER
AUGUST 2021
 Cover: Gettyimages/monsitj

Inside: Gettyimages/shulz; Gettyimages/Amiak; Gettyimages/koto_feja; Gettyimages/blackred;

Gettyimages/Urupong; Gettyimages/Cemile Bingol; Gettyimages/DKosig

Contents
3 A Note from the Data for Common Purpose Initiative

4 Foreword

5 Preface

6 Executive summary

8 1 The Data Economy: An imperative

9 1.1 Data economy
11 1.2 Barriers to realizing a data economy
11 1.3 Data exchanges to enable a data economy
13 1.4 Industry shifts powered by a data economy

14 2 Functional Architecture of a Data Exchange

15 2.1 Principles for data exchange
15 2.2 Capabilities and functionalities of DEx ecosystem layers
16 2.3 Reference model of a DEx
17 2.4 Distinctive characteristics of a DEx

19 3 Governance of a Data Exchange

20 3.1 Data governance
22 3.2 DEx stakeholders
23 3.3 3P approach to a governance framework for a data-exchange ecosystem

25 4 Incentivizing Data Sharing

26 4.1 Determining the value of data
27 4.2 Incentivizing the sharing of data

30 5 Enablers for a Data-Exchange Ecosystem

31 5.1 Availability of data
31 5.2 Usability of data
33 5.3 Building trust
34 5.4 Multistakeholder approach

35 6 Looking Ahead

37 Contributors

39 Endnotes

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Towards a Data Economy: An enabling framework 2

August 2021 Towards a Data Economy:
An enabling framework

A Note from the Data for

Common Purpose Initiative
Nadia Hewett
Satyanarayana Jeedigunta
Project Lead, Data for
Chief Adviser, Centre for the
Common Purpose Initiative,
Fourth Industrial Revolution
Data Policy and Blockchain,
India
World Economic Forum LLC

Data impacts everyone, regardless of industry, risks to all. Much needs to be considered in any
geography or type of entity. Accelerating the discussion on data exchanges and marketplaces
responsible exchange and use of data can including cultural beliefs, philosophies and industry
solve critical challenges and fuel innovation for nuance. For this reason, the focus in DCPI remains
society. Whether the purpose is to provide better on global approaches, to realize the potential of
outcomes in agriculture, health, mobility or other these interoperable systems, while respecting
sectors, organizations and governments can individualized and localized notions. This global
sponsor changes to enable data economies and initiative also serves as a space for further
leverage data. discussion on efforts to source greater trust and
transparency for economic benefit. The Centre
This publication, led by the Centre for the Fourth for the Fourth Industrial Revolution India, among
Industrial Revolution India, is part of the World others in the Network, is a major contributor to
Economic Forum Data for Common Purpose this initiative.
Initiative (DCPI). A global initiative, DCPI explores
data exchanges and marketplaces as means to An introduction to the potential of data exchanges,
exchange data assets for the common good and to Data-driven Economies: Foundations for Our
promote the transition to a data-driven economy. Common Future, was published in April 2021.
A global multistakeholder community of more This idea has gone from being a concept to active
than 50 global partners in 20 countries, inlcuding development, though it is in its early adolescence.
seven countries, DCPI focuses on exploring data The Centre for the Fourth Industrial Revolution
governance models that allow data from personal, India is sharing its vision in this white paper and a
commercial and/or government sources to be starting point for a potential data exchange. These
combined, while still respecting rights. white papers and frameworks are the first of many
deliverables of this multi-year initiative to explore
Presented here is a critical enabling framework to policy, technical and commercial enablers for a
allow stakeholders across the data ecosystem to flexible data governance framework for a data
take data exchanges from concept to reality. It lays exchange. Collectively and individually, they offer
the groundwork in India and elsewhere for those insights into and thorough examinations of, specific
poised to explore, develop and realize the benefits considerations for decision-makers.
of a data exchange to accelerate a transition to a
data-driven economy. In developing governance for data exchanges,
collaboration as well as a systematic and inclusive
Exploration of the topics in this paper resulted from approach are critical. With thanks to the Centre for
collaboration with the DCPI community and the the Fourth Industrial Revolution India for sharing
wider Centre for the Fourth Industrial Revolution their insights, now published for the first time, we
Global Network (C4IR Network). This is to ensure hope that those interested in building a robust data
a broad and global view providing the greatest ecosystem find the framework useful and look
opportunity to ensure the rights of stakeholders forward to incorporating feedback and continuing
and the equitable allocation of benefits and the dialogue on this important topic.

Towards a Data Economy: An enabling framework 3

Foreword
Amitabh Kant
Anna Roy
Chief Executive Officer,
Adviser, NITI Aayog
NITI Aayog

Rapid digitalization has not only helped The Data Empowerment and Protection
India achieve inclusive growth with improved Architecture (DEPA) released by NITI Aayog in
governance but also poised it globally as a data- collaboration with iSPIRT is truly futuristic, providing
rich country. As per a McKinsey report1, Digital data empowerment to the common citizen in the
India: Technology to transform a connected nation, most comprehensive and transparent manner. A
increased digitalization in sectors like agriculture, similar approach for developing data platforms
education, energy, financial services, healthcare, through unique public-private partnership that
logistics, retail, as well as government services moves data out of siloes would help in data-driven
and labour markets, could each create $10 billion decision-making for organizations and data-driven
to $150 billion of incremental economic value policy-making for the government.
by 2025. This impact would be a direct result of
increased digital applications that would help raise NITI Aayog has collaborated with the World
output, save costs and time, reduce fraud and Economic Forum to prepare this paper on data
improve the matching of demand and supply. exchange (DEx), technical and commercial enablers
for a flexible data governance framework. A data
As India moves from being data-rich to data- exchange allows data to be leveraged for broader
intelligent, it will use machine learning and sets of social outcomes and can play a pivotal role in
artificial intelligence to find solutions for a vast unlocking the potential of a data economy.
number of the challenges faced by our country.
Access to high-quality, reliable data along with This paper is a critical step towards a data-driven
appropriate mark-ups would be a primary driver economy and invites a dialogue on exploring
for developing artificial intelligence. Appropriate government-led data exchanges for citizen services.
handling of data, ensuring privacy and security
are of equal importance. The seminal work done For a data exchange to be effective, sector-specific
by the Justice Srikrishna Committee on data models and use cases need to be designed and
protection law lays the groundwork for a robust developed. NITI Aayog and the World Economic
and responsible data-usage framework. The seven Forum endeavour to release a second part of this
core principles of data protection and privacy – paper with a focus on the approach for developing
informed consent, technology agnosticism, data Logistics Data Exchange (LDEx), a framework for
controller accountability, data minimization, holistic data exchange of public- and private-sector data in
application, deterrent penalties and structured the logistics sector.
enforcement – will provide a strong privacy
protection regime in the country once enacted. We acknowledge the World Economic Forum team
and NITI Aayog collaborators for their initiative and
The National Strategy for Artificial Intelligence effort in preparing this white paper.
released by NITI Aayog in 2018 proposes the
development of a data marketplace to enable
easy access to quality data, provide a more level
playing field, equitable access to new data sources
and frameworks to incentivize data sharing in a
responsible manner.

Towards a Data Economy: An enabling framework 4

Preface
The intersection of technology and data
presents a huge opportunity to address various
social, environmental and economic issues

Sheila Waren
Deputy Head, Centre for the
Jeremy Jurgens Fourth Industrial Revolution;
Managing Director, World Head of Data, Blockchain and
Economic Forum Digital Assets; Member of the
Executive Committee, World
Economic Forum LLC

The rapid advancement of technologies is Any such framework will have to establish an
resulting in the collection, processing and analysis environment of trust in the governance of data
of huge volumes of data. This data can be ecosystems and embed security and privacy in
harnessed for the benefit of the society. However, its design. For a data exchange to be effective,
access, availability and enabling discovery of it would have to assure the quality of datasets
data remain key challenges. Data remains siloed, provided, conform to open, interoperable
fragmented across the public and private sectors, standards and support the data needs of
inhibiting the transition to a data-driven economy emerging technologies. While many issues
where the rights of all stakeholders are respected surrounding data and data sharing remain open,
in a trusted environment. this paper presents various approaches that
could be valuable in addressing such concerns.
The intersection of technology and data presents Given the nascent stage of the concept of data
a huge opportunity to address various social, economy, this paper recommends following the
environmental and economic issues. Efforts are principle – “Think big, Start small, Scale fast.”.
ongoing to leverage use of data for the well- We hope it generates thought and action in our
being of the society in various domains, such as journey towards a data economy.
agriculture, financial services, logistics, health and
mobility, among others

This white paper, a result of multistakeholder

consultation between the public and private
sectors in India and globally, sheds light on
data exchanges as a data-sharing mechanism
applicable to both the public and private sectors.
It harmonizes various perspectives – economic,
technical, on innovation and regulatory – to
accelerate the move to a data economy.

Towards a Data Economy: An enabling framework 5

Executive summary

Towards a Data Economy: An enabling framework 6

Data economy – the unrealized potential

In India, value from integrated data use is estimated mechanism for incentivizing data sharing. Data
at about $500 billion.2 To realize this potential exchange can play a pivotal role in the growth
and the benefits of data, certain building blocks of a data economy when facilitated for common
of a data economy need to be put in place in the purposes among various stakeholders and
form of functional technology systems, robust participants.
governance frameworks and a self-sustainable

Functional architecture of data exchange

This paper proposes a five-layer data-exchange set of technological and governance principles
ecosystem, comprising data, consent, data and facilitates exchange of data between data
provisioning, exchange and consumption layers. providers and consumers in a trusted, legally
The core layer - data exchange is based on a compliant environment.

Governance of data exchange

Building upon current governance frameworks, data rights management, prevention of anti-
a 3P-approach – Protect, Prevent, Promote – is competitive practices and misuse of data and
recommended to help define the governance that promotion of innovation and development of
can accelerate the evolution of a data economy standards and protocols. The 3P framework
in India. The core aims of such a framework are is adduced more as a necessity of the data
protection of personal data, privacy-by-design, ecosystem, than as an “imposition”.

Incentivizing data sharing

Data, being a unique asset, presents unique that may be deployed to encourage stakeholders
challenges in determining its value. This paper to exchange data for common purposes through a
explores various factors that impact the value of data-exchange ecosystem.
data and the various incentivization mechanisms

Enablers of data exchange

Due to the nascent stage of development of data Above all, the paper recommends adoption of
exchanges, five enablers are proposed, namely – a calibrated approach to establishing the data
availability of datasets in the ecosystem, usability exchanges that balances the needs of innovation
of the datasets, an environment of trust, effective and protection and follows the principle – “Think
governance and a multistakeholder approach big, Start small, Scale fast.”.
that will accelerate the growth of data exchanges
and help realize the untapped potential.

Towards a Data Economy: An enabling framework 7

1 The Data Economy:
An imperative

Towards a Data Economy: An enabling framework 8

 India has an opportunity to create a trillion-dollar digital economy by 2025, benefiting all
sectors and people. For this, both data and technology will be key enablers. Steps we take
today will determine the trajectory of the data economy. This paper is a multi-stakeholder
effort that explores the concept of data exchanges to harness the potential of data.” .
Ajay Prakash Sawhney, Secretary, Ministry of Electronics and Information Technology, India
Data is a valuable resource. Just as traditional the evolution of a data economy, while rooted in
economies are based on the production and ethical and responsible frameworks:
consumption of goods and services, the data
economy will be based on generation and use, – A reference model that lays down the functional
re-use of data. Data has the power to solve capabilities of a DEx
some of the most pressing challenges facing
governments, societies, businesses and science. – Requirements of data governance that balance
The World Economic Forum’s Data-driven the need for innovation with regulation
Economies: Foundation for Our Common Future3,
developed in collaboration with a global community – Methods to incentivize data sharing to ensure it
and published in April 2021, presents multiple is a self-sustainable model
use cases that illustrate how accelerating the
responsible exchange and use of data can solve – Five enablers, imperative for DExs, to be
critical challenges and fuel innovation for society. enabled and promoted
Leveraging emerging technologies to derive value
from the relevant data in a responsible manner will This paper is intended for policy-makers, industry
form the bedrock of a data economy. leaders, start-ups and academic/research
institutions to kindle the idea of data exchanges
This white paper is a part of the World Economic that can make data easily available for common
Forum Data for Common Purposes Initiative purposes. The proposed frameworks presented
(DCPI), to which the Centre for the Fourth will help organizations and policy-makers steer
Industrial Revolution India is a major contributor. forward-looking, interoperable and innovative
It aims to facilitate understanding of how data approaches to allow use of data from personal,
exchanges (DExs) as a data-sharing mechanism commercial and/or government sources, while
can responsibly play a pivotal role in unlocking the respecting rights. It aims to accelerate the
potential of a data economy. responsible use of data, including recognizing
and apportioning rights, risks and rewards in an
The Centre for the Fourth Industrial Revolution equitable manner. While numerous examples
India, in collaboration with the Ministry of and illustrations cited in this paper are specific to
Agriculture, NITI Aayog, the Ministry of Electronics India, the various ideas, insights and suggestions
and Information Technology and the Government may be applied by other organizations and
of Telangana’s Centre for Responsible governments globally as well.
Deployment of Emerging Technologies, in August
2020, launched the Artificial Intelligence for Data sharing is subject to multiple views and
Agriculture Innovation initiative, examining how assumptions that stem from the relative infancy
emerging technology solutions can be scaled of the concept. Quite often the uncertainty arises
and adopted across agriculture systems.4 A core from the fact that even the terms “data exchange”
pillar of this initiative is the role of data exchanges/ and/or “data marketplace” mean different things
marketplaces in the agricultural sector. Through to different people. Much needs to be considered
a multistakeholder consultative process that in any discussion on “exchanging data”, “data
included government departments, academia, exchanges” and “data interoperability”, including
industry stakeholders, start-up communities and cultural beliefs, philosophies, industry-specific
experts in the domain of data and technology, needs and other nuances, which, it is important to
the concepts and frameworks explored in acknowledge, differ among people, organizations
this white paper on data economy have been and geographies. This paper acknowledges
shaped to enable and accelerate the growth of these nuances and the importance of respecting
a data economy in India. To this end, this paper, the individualized and localized notions of the
while still at early stages of the data economy concepts presented.
journey, delves into various themes relevant to

1.1 Data economy

A National Association of Software and Service of India to be in the order of $500 billion, which
Companies (NASSCOM) report5 assessed the constitutes about 10% of India’s aspirations to
value of integrated data use in the major sectors become a $5 trillion economy by 2025.

Towards a Data Economy: An enabling framework 9

 FIGURE 1.1 Potential of a data economy by sector in India by 2025 (in $ billion)

Health

Public sector 30
Consumer goods
30 95 and Retail
Automotive
45

$500 billion 65 Agriculture

Transport and 55
logistics

55 65 Banking and
Energy
insurance
Source: NASSCOM, 55
Unlocking Value from Telecom, media
Data and AI: The India and IT
Opportunity, August 2020

Data economy assumes a special significance technologies like artificial intelligence (AI), machine
in the context of emerging technologies, also learning (ML), distributed ledger technologies (DLT)
referred to as Fourth Industrial Revolution (4IR) and precision medicine consume huge volumes of
technologies. This is because they produce and data to produce reliable and meaningful results.
consume big data – in terms of volume, velocity,
variety and veracity. IoT devices, sensors, drones Figure 1.2 illustrates how a data economy can be
and biotechnologies generate huge volumes envisaged as comprising several digital ecosystems,
of data at an unprecedented velocity, while which in turn consist of many data ecosystems.

FIGURE 1.2 Data economy, digital ecosystems and data ecosystems

- Governance models
Data economy - Regulatory frameworks
- Stakeholders

- Applications
Digital ecosystems - Infrastructure
- Services

- Data exchanges
Data ecosystems - Datasets
- Standards and protocols

Source: World Economic

Forum

Digital ecosystems - In India, digital ecosystems A National Digital Health Mission (NDHM) has been
are emerging based on the National Open Digital formulated by the Ministry of Health and Family
Ecosystems (NODEs) 6 and India Enterprise Welfare with the aim to create a national digital
Architecture (IndEA)7, both initiatives promoted health ecosystem8. Similar efforts are in the offing in
by the Ministry of Electronics and Information areas like agriculture (IDEA – India Digital Ecosystem
Technology, Government of India (GoI). of Agriculture9), finance (UPI - Unified Payments

Towards a Data Economy: An enabling framework 10

 Interface), education (NDEAR - National Digital the standards for the creation and interoperability
Education Architecture10) and smart cities (Smart of datasets, applications, services and payment
Cities Mission11). The evolution of digital ecosystems mechanisms, besides the protocols for interacting
is one of the key requisites for the systematic and with other digital ecosystems. Such data
organic growth of the data economy. ecosystems, which span across public and private
sectors and encompass end-to-end view of data
Data ecosystems - Data ecosystems are value chains, are expected to play a pivotal role in
sub-elements of more comprehensive digital the speedy evolution of a data economy in India.
ecosystems, comprising not only data, but also

1.2 Barriers to realizing a data economy

Volume, velocity, variety and veracity are the 3. Lack of interoperability of datasets –
attributes of data in the new age. However, the Where data from different sources is required
potential of a data economy remains locked due to to be shared/analysed/integrated, lack of
several existing challenges, not limited to: uniform standards and protocols is a barrier
in making sense out of data. For example, in
1. Unavailability of data – The potential of a healthcare, the fact that different health service
data economy can be realized only if the data providers may be recording health records
is available. Data is a ubiquitous resource. Its of a patient in different formats, makes data
availability and accessibility remain a challenge. portability arduous.
Aside from the government, much of the data
being generated today remains with the private 4. Regulatory uncertainty with respect to data
sector, siloed and unavailable for use for protection and privacy – Laws pertaining to
common purposes. data privacy are evolving. Issues relating to data
ownership and ease of compliance with data
2. Low quality of available data – Even protection laws hinders effective data sharing.
where datasets may be available, if they are
incomplete, mislabelled or in an unstructured As such, there is a need for data-sharing
format (such as portable document format mechanisms that can unlock the potential of data
(PDF)/paper records, etc.), significant effort for common purposes, bringing public and private
is required to clean, scrub or digitize data to stakeholders together to share their data, in a
derive potential or intended value. trusted environment in which rights are respected.

1.3 Data exchanges to enable a data economy

A data exchange (DEx) is one such mechanism of discovery and negotiation in bilateral deals
where seamless exchange of data for value may be too high and inefficient.
can operate. Within an exchange, businesses,
governments and citizens/residents will have the – Unlock the combinatorial power of data:
opportunity to access data for specified purposes. Timely and effortless access to the right datasets
While doing so, however, it is imperative to ensure would create the ability to provide value-added,
that the rights of all stakeholders and participants integrated and end-to-end services to the
are recognized and protected. Data should be beneficiaries, using the combinatorial power of
exchanged in a trusted, secure and efficient different datasets obtained from multiple sources.
manner and should not be misused.
– Data availability: Creating demand for good-
A DEx offers the following benefits in unlocking quality datasets from trusted sources will lead
data for common purposes: to an increase in equivalent supply from data
providers, thus creating a virtuous cycle of data
– Data discoverability: A DEx platform facilitates availability and use.
discoverability of data. On a single platform,
mechanisms to access datasets may be made – Data discipline: The rigorous quality
available by multiple data providers to be requirements imposed by the market dynamics
shared with multiple data users to identify and will inculcate data discipline among various
operationalize mutually beneficial data-sharing stakeholders in their effort to participate actively
deals. Without this kind of a platform, the cost and derive benefits in a DEx ecosystem.

Towards a Data Economy: An enabling framework 11

 – Transparency: Enhanced transparency would – Accelerates research: Research would be
be established in public and private sector accelerated in areas of public interest like
through analysis of data and deriving insights health, education, agriculture and environment.
into the functioning and performance of
various entities.

BOX 1 Shaping the future of agriculture and food: An agriculture data exchange
The case for an agriculture data exchange is based on its While bilateral commercial deals on data sharing already occur,
potential to create social and economic value for the various to obtain the true benefit of data in this ecosystem what is
stakeholders of an ecosystem including farmers, farmer required is the ability of multiple data holders to interact with
cooperatives, government, start-up ecosystems, agricultural multiple data users to identify and operationalize mutually
input and output industries, logistics, the banking and insurance profitable data-sharing deals. This requires a platform. Without
sector and consumers/society. Such value can materialize in one, the cost of discovery and negotiation in bilateral deals
multiple forms: economic, social and environmental. would be too high to allow the market to develop efficiently.

According to research conducted by NASSCOM, an Indian A recent project report13 released by the World Economic
non-profit organization, there is a $65 billion opportunity in Forum identified 30 use cases leveraging emerging
India alone to be realized through unlocking 15 critical datasets technologies through an extensive engagement with over 70
in agriculture.12 The critical datasets identified were: soil health, agri-tech organizations. These use cases can be delivered by
satellite imagery, real-time data on agricultural markets, crop start-ups and industry stakeholders using an agri-data stack as
yields, production and consumption data, weather data, a key enabler. The Ministry of Agriculture and Farmer Welfare,
irrigation maps, storage network details, warehouse details, Government of India, has also released a proposal IDEA (India
commodity profile data, digital land records registry, defect and Digital Ecosystem of Agriculture)14 for public consultation which
pest images, network import-export volume details, historical will unlock this huge opportunity by enabling an agri-data stack
purchase prices for crops. These datasets were analysed on for innovation.
parameters of availability, quality and data usability across
multiple technology innovation-led use cases.

Data providers Agriculture data exchange Data consumers

- Agri-tech startups
- Cloud service
Begin with 15 critical datasets that providers
can unlock $65 billion* in value in - Agri-input
agriculture sector in India companies
- Agri-processing
and market
ecosystem
- Open data - Banking
APIs APIs
- Commercial data and insurance
- Technology
industries
- Soil health - Production and
- System integrators
- Satellite imagery consumption
and data
- Real-time - Historic
transformation
mandi data purchase prices
- Research
- Crop yields - Weather data
institutions

Source: World Economic Forum

*NASSCOM, Unlocking Value from Data and AI: The India Opportunity, August 2020

For example, access to institutional credit for farmers remains technological, regulatory and commercial environment in an
a challenge. One of the reasons is unavailability of information integrated manner for making available the requisite data.
which can help a non-banking financial company (NBFC) to
manage its risk in providing appropriate financing. However, Availability of and accessibility to critical datasets can also benefit
NBFCs can procure datasets relating to soil health, historical in the following ways:
crop yield in a specific geographic area, historical and forecasted
1. In the preparation stage, accurate predictions about the
weather data, high-resolution satellite images and real-time data
weather and future commodity prices could allow better
of energy consumption and agriculture inputs (seeds, fertilizer,
coordination and planning among farmers.
pesticides) and combine with output measurement mechanisms
like electronic warehousing receipts (eWHR) to determine a 2. In the sowing and production stage, information on soil
risk matrix and provide credit on custom terms and conditions quality, weather, and other factors could enable the farmer to
through fintech companies/start-ups. Affordable and easy optimally apply various inputs into the production process.
availability of multiple datasets – both historic and near-real-time 3. Accurate information about current prices available for their
– is critical to determining risk management for NBFCs. Herein produce in various agriculture markets, can allow the farmer
lies the value of a data exchange, which creates the conducive to realize the best possible returns for their yield.
 1.4 Industry shifts powered by a data economy

Data disrupts the industry structure, enables as a care provider; competitors could become
new opportunities for existing and new players collaborators to solve a bigger problem).
and allows companies to transcend industry
boundaries. While there are innumerable – New industries: Digital products, data-driven
possibilities, few patterns that may be visible products and services (for example, patient
pertain to: health management using digital watches)
and growing data ecosystems will likely
– Existing industries: There may be opportunities attract new entrants that provide customized
for existing products/services to shift to smart services for collecting, owning, processing
products/solutions. Data may also be used and/or distributing data. This would enable
within the same industry to extend its position propagation of data across industries making
or transcend industry borders (for example, a it easier for existing and new players to disrupt
medical devices company may position itself their industries and innovate.

FIGURE 1.3 Cross-industry value proposition for a data economy

Data economy – benefits to industry

Existing industries Retail Manufacturing Healthcare Financial services

– Personal investment
– Personalized diagnosis
– Connected products / democratization
and health planning
– Instant product and services – Personalized wealth
Smarter products – Blockchain-based
package customization – Smart components and management
electronic health record
spares – Social banking and
EHR storage and access
investment

– Product traceability and

tracking
Extending positioning – Boundaryless retail – Micro health hub – Data powered micro and
– Connected contract
within industry network management network startup accelerator hub
factories and quick
service stations

– Connected store
– Digital manufacturing – Connected health
Transcend industry powered by 5G data – Connected medicare
from design to delivery and wealth estate
borders – hyper home , health and and insurance network
– Drop shipping management
media hub

New industries FoodTech/ AgriTech FinTech HealthTech LogisticsTech

– Personalized health
– Behaviour-drive
– Digital diet and meal assistant
insurance
planning – Digital nurse / – Digital mobility pass
Digital products – Micro subscription-
– Digital pet care nutritionist – Digital truck
based loan
– Digital pulse /diary farm – Digital disease &
– Digital growth bank
medicine simulator

– Digital BNPL (personal

– Preventive crop care and
lending on digital and
New data-driven cultivation – Personalized drug – Connected logistic
purchase behavior)
products and services – Produce F2M (farm to formulation network
– Digital currency products
market) network
and exchange

– Micro risk and

– Micro agri net to drive investment district (e.g.,
Transcend industry
local community market people who transact – Health plan & benefits – Logistics index exchange
borders
and finance with credit cards likely to
default on home loans)

Governance controls Privacy and regulation | data governance framework | application layer governance and data level governance

Role in the economy Operate the economy | participate in the economy | monetize data in the economy

Towards a Data Economy: An enabling framework 13

2 Functional
Architecture of a
Data Exchange

Towards a Data Economy: An enabling framework 14

 2.1 Principles for data exchange

For a forward-looking data economy and data commercially viable DExs are a key requisite.
ecosystems to flourish, functionally efficient, Figure 2.1 illustrates the principles which should
technologically robust, legally compliant and be considered in the design of a DEx.

FIGURE 2.1 Technology and governance principles for DEx design

- Orthogonality of foundational - Trust among the stakeholders,

capabilities and core components, systems and transactions in a data
meaning they can evolve exchange

Governance Principles
independently
Technology Principles

- Equal and non-discriminatory

- Extensibility of technologies used, access to a data exchange to
enabling evolution without sacrificing ensure democratization of access
interoperability to data

- Open standards and open - Equitable distribution of risks and

application programming interface rewards among data exchange
(API)-based ecosystem as the stakeholders
basis of an exchange to enable ease
of data exchange - Transparency in data exchange
operations
- Interoperability to allow frictionless
flow of data - Privacy- and security-by-design
to ensure a protected and secure
- Federated architecture to ensure data exchange
autonomy and decentralized
operation of a DEx - Accountability and governance
mechanisms to provide appropriate
- Data agnosticism to maintain the redress to stakeholders
neutrality of a data exchange
Source: World Economic
Forum

2.2 Capabilities and functionalities of DEx ecosystem

layers

A DEx ecosystem is conceptualized to consist techno-legal solutions to validate the same

of five layers: Data, Consent, Data Provisioning,
Exchange and Consumption. The capabilities and – Provisioning layer enriches the
functionalities particular to each layer are listed data by various methods such as
in Figure 2.2. Each layer is envisaged such that it aggregation, annotation, metadata creation,
can evolve independently, as per the technology tagging, cataloguing and anonymization,
principles in Figure 2.1. where necessary

In Figure 2.2: – Exchange layer is presented in detail in

– Data layer refers to data held by data owners/ Section 2.3
providers
– Consumption layer refers to the point where
– Consent layer enables consent management, data is used by data consumers and economic
adherence to purpose of sharing as specified value from data is realized for common
by the data provider/owner and appropriate purpose.

Towards a Data Economy: An enabling framework 15

 FIGURE 2.2 A DEx ecosystem

Privacy, Security, Interoperability,

Regulation Functionalities of the layers

- End user management (research, innovation)

Consumption
- Payments, taxation interface
- Data rights management
5-layer model of data exchange ecosystem

- Registration of actors in data ecosystem

Exchange
- Data discovery, price discovery
- API & e-payment gateway
- Auditability, grievance management

- Extract, transform, load (ETL), aggregation,

Provisioning annotation, anonymization
- Metadata creation, tagging, cataloguing
- Data Commerce

- Purpose of sharing, consent management

Consent
- Visibility into data consumption
- Transaction history, compliance

- Creation, storage, maintenance

Data
- Quality, availability, security, privacy
- Identification, immutability
Source: World Economic
Forum

2.3 Reference model of a DEx

Central to a DEx ecosystem is the “exchange” 2. Dataset discovery and quality management:
layer. Figure 2.3 provides a DEx reference A DEx does not store data but facilitates
model. The layers are conceptualized using the peer to peer exchange of data between
technology and governance principles highlighted data providers and data consumers. Various
in this Section. The six functionalities represent datasets should be organized in a logical
capabilities in the areas of technology, regulation structure or taxonomy to help data consumers
and management. search the exchange easily and find what they
are looking for. Sample datasets may also
Major functionalities of a DEx provide live testing capabilities in a controlled
environment. Solutions may be built on top of
1. Identity management: A DEx enables open source as well as proprietary software.
identification, authentication and authorization
of the providers and consumers of data 3. DEx gateway: A DEx gateway facilitates secure
intending to transact on the platform. Trust in a exchange of datasets between data providers
platform is linked to the rigour with which these and consumers. This layer provides opportunities
three functions (identification, authentication for service providers in the space of integration
and authorization) are performed by a DEx. platform as a service and API management.

Towards a Data Economy: An enabling framework 16

 FIGURE 2.3 A DEx reference model

Data providers DEx governance structure Data consumers

Data exchange
User management
Identity | Registration | Exit | Messaging

Dataset discovery and quality management

Metadata | Catalogues | Provenance | Sample datasets
- Open data DEx gateway - Digital service
API gateway | Tokenization | Fulfilment monitoring providers
- Commercial data
APIs APIs - Startups
Transaction management
Price discovery | Smart contracts | Metering - Data provisioners*
- Public sector Invoicing | Settlements
- Researchers
- Private sector Trust management - Civil society
- Non-profit sector Data rights management | Audit trail | Intellectual
property rights | Consent management
Ratings | Reviews

Infrastructure and support services

DEx cloud | Security | Privacy
Analytics | Complaints | Administration

Source: World Economic

Forum
4. Transaction management: The transaction- (DLT) could be a viable option. A ratings
management system should be simple, with and reviews mechanism helps attract more
*Data provisioners least number of steps, intuitive and frictionless. consumers to use the exchange and identify
enrich data and make it
The processes should be secure and fool-proof the most popular and trustworthy datasets.
marketable in compliance
with data regulations. to prevent fraudulent transactions.
6. Infrastructure and support services: Various
They act as a bridge
5. Trust management: Among other features, infrastructure and support services including,
between data providers
immutable audit trail and authentication of but not limited to, an effective grievance
and data consumers.
data origin will add to the trust in the platform. redressal system would enhance user
Deployment of distributed ledger technologies confidence and increase transparency.

2.4 Distinctive characteristics of a DEx

There are multiple frameworks, technologies are designed for use cases where the nature and
and tools for exchanging data, each driven format of data and the purpose and process for
by a different aim and focus. DEx is one such its sharing are deterministic. In respect of a DEx,
mechanism with a focus on unlocking data to on the other hand, 1. the architecture needs to be
create economic value in a rights-respecting and optimized for a wide range of use cases where
trusted environment. The distinctive characteristics the data is yet to be discovered, 2. the manner of
of a DEx are described below: its use is dependent on the nature of innovation,
and 3. the terms of data exchange need to be
1. DEx is more than data-sharing: A DEx platform agreed upon between multiple parties.
offers a wide range of services that precede
and succeed the actual data-sharing. While 2. Minimum viable product (MVP) of a DEx:
frameworks, technologies and tools used for It may be impractical to design and develop
data sharing can be leveraged by a DEx, several the entire range of features and services of a
services specific to a DEx may have to be DEx upfront. A DEx should evolve with time. It
provided for in a DEx platform itself. For instance, is therefore appropriate that the core features
while leading API gateways provide functionalities of the platform are built as an MVP. These
relating to user management, API management, features should be such as to enable exchange
authentication, authorization and metrics, they of data relating to a specific sector and for
may not sufficiently address issues relating purposes of innovation in identified segments
to data exploration and discovery or consent of the related value chains, in compliance with
management. Likewise, some of the frameworks applicable regulations.

Towards a Data Economy: An enabling framework 17

 3. Interoperability of DEx with external this in mind, the technology architecture of a
platforms: A DEx is conceptualized as a DEx needs to be designed in a modular and
multi-layer system with the capabilities of interoperable manner, using open standards
each layer well-defined. The functionalities and open-source products and components.
of some of the layers have already been This will allow external platforms to plug into
built by commercial platforms in different a DEx platform with relatively less effort and
scenarios like e-commerce and open data carry the footprint of their existing users to a
initiatives. Such platforms can deliver part of DEx environment.
the functionality envisaged by a DEx. With

TA B L E 2 A sampling of data exchange technologies and/or platforms includes:

Data exchanges (non-exhaustive)

1. Dawex15 – a data exchange and data marketplace technology company

2. DATA for GOOD Foundation16 – enables consensual sharing of GDPR regulated data

3. Indian Urban Data Exchange17 – open-source software platform for data exchange in smart cities

4. Elastos18 – a platform that enables data ownership, decentralized data exchanges and data
monetization by offering an array of open-source developer services

5. Databroker19 – a blockchain-supported exchange for data

6. One Creation20 – a platform providing a decentralized digital rights exchange fabric (DDREF) with
tools to control, enforce and monetize data digital rights

Towards a Data Economy: An enabling framework 18

3 Governance of a
Data Exchange

Towards a Data Economy: An enabling framework 19

 Both the public and private sectors hold large security, protection of commercially sensitive/
amounts of data, which remain siloed and confidential/legally protected data, trust and
inaccessible to be used for common purposes. compliance requirements in cross-border data
Even where such datasets are made available flows. While these issues and risks are common
(open data, etc.), data governance models do to organizations and governments around the
not allow data from personal, commercial and/or globe, development of an appropriate governance
government sources to be combined. If effectively framework remains specific to each industry and
leveraged, both public- and private-sector data jurisdiction. A balanced approach that recognizes
have the potential to solve complex challenges, the trade-off between opportunity and challenges
while still respecting rights. needs to be adopted by the various stakeholders.
This section surveys the governance landscape
Data sharing comes with its own set of challenges, and identifies the requirements that can facilitate
however. These include issues relating to privacy, the evolution of data economy in India.

3.1 Data governance

Data governance frameworks, including but and regulations (current and proposed), bearing
not limited to policies, regulations, formal and upon the exchange of data in India are listed in
informal standards and rules, are rooted in and Table 3.1. Exchange of data in other jurisdictions
arise out of privacy concerns and the need will have their specific data regulations to consider
to protect personal information of individuals and comply with. The need and extent of
from unauthorized access or use. In India, data regulation of data exchanges remains debatable,
ecosystems are regulated by a set of regulations, with various views across the spectrum.
general and specific to data protection. The laws

TA B L E 3 . 1 The existing (and proposed) data governance frameworks in India

Regulation Description

Information The IT Act of India was enacted as an enabler of e-commerce. It provides legal recognition of
Technology (IT) Act electronic records, authentication of electronic records by public key infrastructure (PKI)-based digital
2000 and IT signatures, delivery of electronic services and notably, execution of contracts electronically. Electronic
(Reasonable contract can be considered a distant forerunner of smart contract, which is essential for the evolution
security practices of a data economy. The Rules notified in 2011 under the IT Act provide for protection of sensitive
and procedures and personal information.
sensitive personal
data or information)
Rules, 2011

National Data NDSAP is applicable to all non-sensitive shareable data available in digital/analog form but generated
Sharing and using public funds by various ministries/ departments/ agencies/organizations of the Government of
Accessibility Policy India. It called upon the government to proactively share open data and was followed by the launch of
(NDSAP), 2012 the open data government portal (data.gov.in)

Law on copyright In India, the Copyright Act 1957 provides copyright protection to “original literary works”21, among
and trade secrets other classes of works. “Literary works”22 include compilations of data and the Indian courts have
viewed “originality” as requiring a “minimum level of creativity”.23 As such, data in raw form may not be
copyrighted. However, if some level of skill and creativity has been exercised in compilation of a datasets/
database to make it usable, it may be protected under Indian law.

There is no statutory protection afforded to trade secrets in India. However, trade secrets are recognized
and protected by way of judicial rulings and contractual arrangements. Secret information has a
commercial value and steps taken to keep it secret usually fall within the ambit of a trade secret.
Contracts with confidentiality obligations can be entered into between parties to protect disclosure of
data (including trade secrets).

Towards a Data Economy: An enabling framework 20

Regulation Description

The Competition Data is a substantial intangible asset used for value creation, comparable to copyright, patents,
Act, 2002 intellectual capital, or goodwill. This is leading to a situation where a few large platforms have become
the new gatekeepers to the internet. In this context, it is essential that a regulatory framework for
DExs should not only support innovation, but also provide effective safeguards from potential harm to
competition and consumer welfare.

The Competition Act 2002 provides some safeguards to mitigate risks associated with data-driven
economies. Amendments may be required, however, to strengthen the existing provisions to deal with
likely infringement of competition laws specifically in the context of data economy, to curb restrictive and
unfair practices such as abuse of dominant position, online vertical restraints, anti-competitive licensing
agreements, commercial arrangements, mergers and acquisitions.24

The Personal Data At the time of writing this paper, the PDP Bill is under consideration in the Indian Parliament. It seeks to
Protection Bill (PDP lay down a comprehensive framework for personal data protection. The Bill provides for 1. obligations
Bill), 2019 of data fiduciaries that determine the purpose and means of processing personal data; 2. rights of data
principals (natural persons to whom the personal data relates); 3. establishment of a Data Protection
Authority in India; and 4. penalties and compensation for contravention of certain provisions of the law.
The Bill balances the needs of data economy with the responsibility of data protection with respect to
personal data.

Report of Committee The report of the Expert Committee constituted by the Government of India has proposed a framework
of Experts on for use of non-personal data (NPD), which includes the salient features below:
Non-Personal
Data Governance 1. Recommends establishing a legal basis for asserting the rights of India and its citizens over
Framework 25 non-personal data
2. Outlines a framework for generating economic benefits from non-personal data for India and its
people
3. Provides an illustrative architecture of NPD exchange
4. Defines and identifies certain categories of data as High-Value Datasets (HVDs), to be used for public
good
5. Provides recommendations on data sharing in the context of public good purposes

Data Empowerment The National Institution for Transforming India (NITI) Aayog, the national body responsible for planning
and Protection national development designed the DEPA framework to catalyse activities in the data economy. DEPA
Architecture introduces the concept of a consent manager which would enable individuals to control their data and to
(DEPA)26 consent to share it with third party institutions.

In the financial sector, DEPA has been formalized through the Account Aggregator27 framework, for which
directions were notified by the Reserve Bank of India. Under this framework, a new class of non-banking
financial companies are being licensed to allow data owners to share their financial data, which may be
siloed in banks with third party applications.

DEPA is a powerful instrument that builds on the time-tested architecture/principles of Unified Payments
Interface (UPI) in India. It provides guidance in the design of some of the core components of a DEx.

Towards a Data Economy: An enabling framework 21

 3.2 DEx stakeholders

There are several stakeholders in a DEx commercial models evolve. They are likely to be
ecosystem. Table 3.2 lists the roles of various explored and tested, set within parameters for
stakeholders. These might be further reimagined responsible, fair and ethical use of data.
and redefined as technology, regulation and

TA B L E 3 . 2 Table 3.2 – DEx stakeholders

Stakeholder Role

Government 1. Amend and/or enact legislation, regulations, policies to facilitate development of DExs
2. Promote use of data for common purposes to create value by the public and private sectors
3. Establish new regulatory authorities or extend authority of existing regulatory authorities for redress of grievances
and effective enforcement of laws relating to data ecosystems

Regulators 1. Protect interests of DEx participants and stakeholders

2. Promote development and adoption of technology standards, specifications and best practices in DExs
3. Establish infrastructure like regulatory sandboxes to accelerate and promote innovation

DEx platform 1. Connect data providers and consumers in a trusted environment in compliance with applicable regulations
2. Register, identify and authtenticate DEx users
3. Specify the rules of engagement for DEx users
4. Enable discovery of datasets
5. Establish secure systems that ensure security, privacy and consent management

Data provisioners28 1. Enhance value of raw data by adding value to it, providing a range of data-processing services to ensure that the
data is usable, interoperable and transformed into a format required by the data provider/consumer
2. Establish a trust mechanism between data providers and consumers with respect to data quality
3. Provide consent management and contract management services, if needed

Data providers 1. Data providers are public- or private-sector entities (government, business, non-profit organizations or individuals)
that create, provide, update, secure and maintain data (both personal and non-personal)
2. Exercise effective control over their data and provide consent in accordance with applicable regulations, which is
critical for building a trusted environment
3. Proactively assert their rights where needed, especially in areas relating to personal data protection and equitable
distribution of value, aiming for the long-term stability and sustainability of data ecosystems

Business enterprises 1. In addition to being data providers, businesses should adopt best practices in data governance to ensure
availability and management of real-time, high-quality secure datasets
2. Fund research in applied data science and application of emerging technologies within the enterprise and beyond
3. Leverage the network effects fairly and equitably using the combinatorial power of multiple datasets and diverse
technologies by working with other data ecosystem stakeholders

Innovators 1. Innovators include the start-up community and the small and medium-sized enterprises (SMEs) segment
exploring opportunities to solve real-life challenges using data and conventional/emerging technologies
2. Discover new ways of leveraging data for scalable solutions
3. Participate actively in the sandbox(es) created by various authorities to experiment with new ideas by accessing
data in a controlled environment

Researchers 1. Develop standards and protocols to enable DExs, particularly irreversible methods of anonymization, federated
databases, owner-centric data management, lightweight consent management frameworks, privacy-preserving
technologies and intellectual property rights (IPR) preserving technologies
2. Develop data-governance frameworks adapted to a DEx
3. Conduct applied research on innovative use of datasets

Civil society 1. Explore vulnerabilities in a DEx ecosystem, specifically in domains of data security and privacy
2. Observe the operations of a DEx and identify any restrictive practices
3. Advocate policy with the objective of enhancing protection of stakeholder interests equitably and inclusively

Towards a Data Economy: An enabling framework 22

 Building on the work undertaken by the Centre for explore the roles and responsibilities of DEx service
the Fourth Industrial Revolution India and presented providers. Deliverables aim to provide jurisdiction-
in this paper, the Data for Common Purpose and industry-agnostic tools, while ensuring
Initiative (DCPI) will facilitate further collaboration adaptability as per local context and requirement29.
between public- and private-sector partners to

3.3 3P approach to a governance framework for a

data-exchange ecosystem
Data has unique characteristics, the most existing (and proposed) governance frameworks
noteworthy being its volume, velocity, variety and in India (Table 3.1) and the various stakeholders
veracity, in addition to its non-rivalrous nature and (Table 3.2), any framework should aim to balance
above all the immense scope for innovation that enabling innovation with governance requirements
access to data provides. The combination of the to accelerate the evolution of data economy in India.
above characteristics makes it difficult to design a The following principles are proposed to guide the
governance framework, whether government-led formulation of such a framework in a 3P approach,
or self-regulatory. Taking into consideration the namely, Protect-Prevent-Promote (Figure 3.2)

FIGURE 3.1 3P framework

PROTECT PREVENT PROMOTE

- Personal data - Unauthorized use - Dynamic,

and misuse of data competitive, trusted
- Embed data rights
DEx ecosystem
management - Anti-competitive
practices - Development of
- Effective grievance
standards and
redress mechanism - Harm to
protocols
stakeholders
- Open innovation

Protect 3. Effective grievance redress mechanism

– The interests of all stakeholders of data
1. Personal and non-personal data should be protected through appropriate
– Personally Identifiable Information (PII) of grievance-redress mechanisms.
natural persons should be protected across
the data value chain by all stakeholders Prevent
involved in the ecosystem. The principle
of privacy-by-design should be observed 1. Unauthorized use and misuse of data
in the design and implementation of all – The purpose of data sharing may be
digital and data ecosystems, specifically identified and agreed upon to prevent
those dealing with personal data. These possible misuse of data. Broad categories
include but are not limited to notice, choice, of data processing purposes may be
consent, purpose limitation, collection defined through appropriate standards and
limitation, disclosure limitation, right of guidelines applicable in general for all DExs
the data owner to access and correction, or specifically to each domain or sector of
security, accountability and transparency. the economy. One such example is the set
of standards developed by the International
2. Embed data rights management Organization for Standardization (ISO),
– Differential authorization of data use may be 14265-1130, on “classification of purposes”
adopted to allow the data owners/providers of using health data. The framework should
to specify for which purpose(s) their data be designed so as not to discourage
can be used, for what duration and whether innovation and preferably in the form of
the data should be monetized. To realize self-regulation in respect of processing of
this requirement, a data-rights management non-personal data.
framework may be developed, akin to
digital rights management in the media and
entertainment sector.

Towards a Data Economy: An enabling framework 23

 2. Anti-competitive practices 2. Development of standards and protocols
– The framework should be designed Governance agencies should be encouraged to:
considering the particular characteristics – Develop and enable adoption of standards
of data that make it more amenable to and protocols, inter alia, to enable
anti-competitive practices in subtle and interoperability, smart contracts and
indirect methods. Reporting norms may be discovery of datasets
provided with respect to listed practices
that have pronounced predilection for – Develop open-source tools and
creating monopolies and a propensity technologies to enable DEx ecosystems to
to prevent new entrants through barriers scale easily
of scale, exclusive and proprietary
technologies and requirements of high 3. Open innovation
computing/ storage capacities. – Promote ease of access to data for
innovation and research
3. Harm to stakeholders
– A certification mechanism may be – Ensure equitable access to data, especially
established to ensure that the applications for start-ups and SMEs
that require the use of various datasets are
bona fide and can be trusted by the users. – Ensure fair, reasonable and non-
discriminatory (FRAND) terms for accessing,
Promote using and valuing data

1. A dynamic, competitive and trusted DEx – Promote partnerships that can scale across
ecosystem participants, sectors and industries
– Lightweight process for registration /
de-registration / exit of data ecosystem Agile frameworks supported with mechanisms
stakeholders and participants may be to promote, support and empower a DEx
developed, depending on the sector and ecosystem will set the stage for and facilitate
purpose for which the data is used. collaboration, interoperability and innovation
among stakeholders. Such an approach would
– Commensurate with the sensitivity and enable data ecosystem participants to realize
inherent value of the data, appropriate value and equitable access, while adapting
reporting and compliance mechanisms may to continuous change in the ecosystem,
be developed governance and industry trends.

– Data portability among data business

entities and various service providers in
the DEx ecosystem may be encouraged,
subject to reasonable restrictions

BOX 3.2 Cross-border data flows

Cross-border data flows are technologically ensure that all the economies benefit from the
possible but may be regulated and restricted Fourth Industrial Revolution. A fine balance is
due to local regulatory frameworks. To harness needed between supporting and enabling global
the benefits of emerging technologies, flow of movement of data to facilitate commerce while
data in a trusted environment is essential. 31 simultaneously inspiring trust among individuals,
Global cooperation and coordination between industry and governments, and enhancing their
governments to adopt robust cross-border ability to control access to their data, even as
data-sharing policies is of critical importance to economic value is generated for all stakeholders.

Towards a Data Economy: An enabling framework 24

4 Incentivizing Data
Sharing

Towards a Data Economy: An enabling framework 25

 Governance frameworks and compliant sustainable DEx model in a voluntary manner. To
technological solutions are essential to a flourishing do this, it is necessary to understand the various
data economy. What remains to be determined factors that confer value on data and how various
is how to assess the value of data and incentivize stakeholders can be incentivized to share data in a
stakeholders to share data and develop a self- trusted environment.

4.1 Determining the value of data

Data has inherent value, which is a combination exclusivity and restrictions on use. Objective value
of its apparent value and latent value. Both types determination of data remains difficult.
of value can be enhanced if conscious efforts
are made to enhance the positive attributes and The Data for Common Purpose Initiative (DCPI)
reduce negative attributes. The value-enhancing investigates this subject in greater detail as part
attributes of data are its architecture and design, of the global multistakeholder work underway for
storage and operational practices, quality, data exchange. The initiative looks to develop best
timeliness, security, interoperability, propensity to practices, insights and tools to support initiative
be discovered and above all, a transparent and participants in implementwell-designed, equitable
trusted data governance system. Some of the and sustainable data valuation frameworks as they
value-diminishing attributes of data are sensitivity, pilot and launch exchange platforms32.

FIGURE 4.1 Factors influencing the determination of data value

Interoperability/accessibility Timeliness Accuracy

Standards-compliant, Depending on the context, A dataset that has been
interoperable datasets have real-time data may have a created with rigid validations
higher value greater value than historic data at the data collection stage
has a higher value

Completeness and exclusivity Liabilities and risks Usage restrictions

The more unique and complete Potential liability and risk will Data with fewer restrictions
the dataset, the greater its value reduce the quality of a dataset on its use may have a
higher value

Combinatorial power of data Consistency Market interest

Combining datasets from Data which conforms to the The value of a dataset
various sources can increase the syntax of its definition is depends on the economic
value of the combined dataset consistent and has greater value value it can create.

Source: Putting a value on

data, PwC, 201933

Towards a Data Economy: An enabling framework 26

4.2 Incentivizing the sharing of data

Data may be shared for different purposes via Aside from direct monetization of datasets,
various means. Some governments have been which will involve establishing objective
promoting the sharing of data, using public valuation methods and the creation of demand
funds, for the benefit of their society. Businesses for high-quality trusted datasets, there are
have been adopting both open data and data several indirect benefits which can be realized
monetization models, depending on the nature through data sharing, discussed below.
of data and the purpose and use of data. Public-
private data-sharing models are at a nascent stage 3. Non-monetary incentives
due to various issues, some of which relate to Reciprocity: Data providers can be incentivized
regulatory risks, confidentiality of data, concerns to share data in exchange for access to data
relating to data being used by competing entities, from other providers, especially in a scenario
insufficient mechanisms to distribute risks and where they would benefit from having better
rewards equitably in the data value chain and visibility. For example, providers of cold storage
increased accountability. These risks and concerns of vaccines and transportation companies
can, to a certain extent, be addressed through would mutually benefit by sharing data through
techno-legal solutions. However, the right kind of a DEx for tracking and tracing vaccines.
incentives, ones that enable and empower public
and private data holders to share their data for Opportunity to innovate: Certain businesses
common purposes, is a pre-requisite. tend to make datasets available to provide
an opportunity for innovation by way of
A unique attribute of data is that it is non-rivalrous, hackathons/challenges, etc. They benefit from
that is, its value does not diminish once used, receiving insights into their existing datasets or
unlike other commodities. Instead, the same solving a specific problem.
dataset can be used, re-used, re-purposed,
combined or aggregated with different datasets Data credits: Data sharing for common purpose
to create value, in myriad ways. Some examples could be considered as part of corporate
of incentives that have been used/proposed to social responsibility initiatives, as it can provide
encourage data sharing in a DEx are: significant benefit to society. For sharing data,
companies could be provided data credits, akin
1. Policy and Regulatory Frameworks to carbon credits.35 Not only will this incentivize
Depending on the importance of datasets and using data for common purpose, it may also be
their use within a specific sector, there are included as a metric for environmental, social
instances where governments have facilitated and governance (ESG) compliance.
data sharing from both public and private
sector. As an illustration, the Act on Transport Depending on the ownership of DEx, the domain
Services in Finland, which came into force in in which it operates and the relevant stakeholders,
2018, provides for opening of certain essential these incentives by themselves or in combination
data in the transport sector, in a bid to examine may be used to develop a self-sustainable
the transport sector in a holistic manner34. DEx ecosystem.

2. Monetary incentives
Data is often seen as a commodity. As such
there are private data marketplaces/exchanges
that allow buying and selling of datasets. In
such a scenario, datasets may be used to
generate direct revenue.

Towards a Data Economy: An enabling framework 27

BOX 2 Shaping the future of smart cities: An urban data exchange

Smart cities around the world have invested heavily in the deployment utilities metering systems, geographic information system (GIS) and
of cameras and a multitude of sensors to capture live city data. property management systems, Wi-Fi and cellular infrastructure, waste
Moreover, various citizen services platforms have been aggregating vast management and other social platforms. These data sources have laid a
volumes of data over time. Data sources include citizen engagement strong foundation for cities of the future.
portals, e-payment services, public transport systems, energy and

I G U R E 4 . 2 Improvement (in percentage) in key quality of life indicators by smart city applications
F

Commute time
15–20%
Time spent interacting with
Disease burden healthcare and government
8–15% 45–65%

Time and
Health convenience Fatalities
GHG emissions
8–10%
10–15% Crime incidents
Water consumption
30–40%
20–30% Environ -
Emergency response
Unrecycled waste
mental Safety time
quality
10–20% 20–35%

Social
connectedness and Cost of
civic participation living
Citizens feel connected to … Jobs Citizen expenditures
… their local community Formal 1–3%
15 percentage points employment

… their local
1–3%
government
25 p.p.
Source: Smart Cities:
Digital solutions for a more
livable future, McKinsey
Global Institute (2018)36

As per a recent (unpublished) World Economic Forum study along Affordable and easy availability of quality and usable datasets – both
with Smart City Mission and the Ministry of Housing and Urban Affairs, historic and near-real-time – is one of the most important requirements
Government of India, the potential of about 50 urban datasets was for the start-up ecosystem and industries providing innovative solutions
identified across various urban domains: for smart cities. Smart City Mission announced the launch of IUDX
(India Urban Data Exchange), which creates conducive technological,
– Security and safety (closed-circuit television (CCTV) cameras, crime regulatory and commercial environment in an integrated manner for
and safety data, dynamic location of response teams, social media making available the requisite data.
and grievances data)
Some of the examples of use cases leveraging an urban data exchange:
– Disease outbreak (anonymous healthcare data from hospitals, clinics
and pharmacies, health applications and internet of things (IoT) 1. Smart water management: AI-powered smart water management
wearables, mobility data, wastewater, geolocation and availability of systems, such as digital flow meters that track, measure and
resources, social and grievances calls) optimize water consumption in real time.
– Mobility (public transport, parking, traffic signals, camera feeds, crowd 2. Smart energy management: Potential use cases in the energy
events, road construction and repairs, grievances and social data) sector include energy system modelling and forecasting to reduce
– Waste management (IoT sensor data of bins, location tracking of unpredictability and increase efficiency in power balancing and
garbage collection vehicles, grievances and social data, availability usage, as well as for predictive maintenance of grid infrastructure.
of sanitation resources) 3. Predictive storm water management: Forecast flooding due to
overflowing of storm water network based on historical patterns of
– Water supply and storm water drainage (smart meters, IoT sensors
GIS and other data points, alert citizens and help keep people safe
of distribution and pumping systems, social and grievances
and informed, create simulation of water flow in different scenarios
data, weather forecasting, flood monitoring sensors, repair and
across storm water network, use predictive analytics based
maintenance schedules, geographic information system (GIS) data)
on complaints and cleanliness schedule, dashboard for citizen
– Energy supply (smart meters, smart grid, social and grievances, GIS, grievances related to storm water cleaning, dashboard on the storm
maintenance and breakdown, power management systems) water network clean-up work.

– Environmental data (air quality index sensors, camera feeds, crowd

events, waste management systems, grievances and social data)

Towards a Data Economy: An enabling framework 28

BOX 3 Shaping the future of logistics: A logistics data exchange (LDEx)

According to a NASSCOM report37, Data and AI could add $450 to $500 and trace, etc.), transportation and last-mile delivery companies,
billion to India’s GDP by 2025, out of which $55 billion would be added to warehousing, cold storage providers, manufacturing companies,
logistics sector alone. This value will be added by solving various systemic banking and insurance companies.
problems in India’s logistics sector:
Realizing the potential to unlock data in the logistics sector, the
1. Supply chain cost efficiency: India’s logistics costs are currently Government of India has initiated a flagship project, the Unified Logistics
extremely high, at 14% of the GDP. To increase efficiency, it is Interface Platform (ULIP), which would act as a gateway for data
essential to enable data-driven optimization of asset utilization exchange between government and private entities to cross-leverage
(warehouses, multimodal transport units, ports, cold chain, etc.) each other’s information and deploy innovative technology-based
across supply chains. solutions addressing logistical challenges.
2. Track and Trace: Enable the vision of paperless processes for
Phase 1 is slated to be completed in 2021, integrating the information
multimodal logistics in India by facilitating “one nation-one permit”
available with various existing government applications handled by
and enhance ease of doing business.
various departments/agencies across the supply chain, such as
3. Improved last-mile delivery: AI helps optimize location of delivery railways, shipping, civil aviation, goods and services tax, road transport,
terminals, fleet size, optimum consignment size and delivery customs, foreign trade, etc. This interdepartmental government initiative
frequency. This becomes essential to enable businesses of will catalyse the private sector to unlock the potential of data, serving
emergency supplies and perishable goods, especially in remote and as an example for other sectors to follow. Data integration is a critical
relatively inaccessible areas. first step. As part of the next phase, a fully functional data exchange
The case for a logistics data exchange is its potential to create social with APIs and information exchange protocols for seamless interaction
and economic value for the various stakeholders of an ecosystem between private- and public-sector entities is envisaged. An illustrative
including government (taxation, infrastructure planning, track model of a Logistics Data Exchange (LDEx) is provided here:

FIGURE 4.3

LDEx users
APIs LDEx API gateway
Data providers and consumers

Government Sensors and IoT

devices Government
Data User journey
transformation layer
Satellite and GIS AI and data 1
science-based √ Dataset curation √ Register as user
providers
Data governance framework

startups Identity management (provider/consumer)

√ Cross-linking from
Warehousing, Third party different sources 2
Last mile delivery cold storage providers can √ Browse metadata
providers Data explorer and sample datasets
offer value √ Unstructured to
added services structured datasets 3
Cloud service Banks, insurance like data Authentication and √ Comply with data
providers and fintech certification rights - access and
transformation, √ Enrichment and purpose controls
compliance etc crowd-sourced 4
Academic/ √ Price discovery,
Drones – future research annotation Transaction invoicing, payment
logistics Institutions gateway
√ Meta data and data 5
Manufacturing sample. Indexing for Grievance and √ Audit trail
Traders keyword search feedback √ IT operations
companies

Gateway for data exchange between both government and private entities to cross-leverage each
Source: World Economic Forum other’s information and deploy innovative technology-based solutions addressing logistical challenges

Such an exchange has the potential to increase efficiencies in Given the potential of data unlock in the logistics sector, the Centre
the logistics sector, give rise to new businesses which are not for the Fourth Industrial Revolution India and NITI Aayog will be
viable in the current state of data ecosystems, thus creating collaborating on an application-oriented white paper illustrating a
furthermore high-paying jobs and attracting investments. logistics data exchange to make the vision of ULIP a tangible reality.

Towards a Data Economy: An enabling framework 29

5 Enablers for a
Data-Exchange
Ecosystem

Towards a Data Economy: An enabling framework 30

 Data exchange as a data-sharing mechanism for 3. Environment of trust between DEx stakeholders
deriving value from data is at an incipient stage.
Various DEx models – both public, private and 4. Collaborative and multistakeholder approach to
public-private partnership-based in different promote adoption and growth of DExs
domains – are being tested nationally and globally.
If these models are to be adopted and become 5. Effective governance systems to protect the
self-sustainable, it is necessary to promote and interests of the stakeholders, society and to
enable DExs. The following are considered key promote growth of DExs
enablers for the growth of DExs:
The first four enablers are discussed in the
1. Availability of data following sections. The fifth enabler was presented
in Section 3.
2. Usability of data to meet specific or generic
requirements of data users

5.1 Availability of data

Availability of data is a pre-requisite for multiple data sources, deploy machine-learning

contemplating data exchange. As alluded to in tools to automate the process of conducting
Section 1, a major challenge in operationalizing analysis and track performance metrics. For
DExs is unavailability of required, complete example, for developing an agriculture DEx, some
and trusted datasets. As such, if critical mass of the essential datasets would be pertaining to
datasets can be identified and made available at financial data (credit history, digital transaction
the outset, it will give an initial momentum for the history), agriculture data (crop yields, soil health,
evolution of data ecosystems and exchanges. inventory of agricultural commodities), land registry
The best data ecosystems are built around an records, real-time data on vehicle movement and
analytics platform that helps enterprises integrate meteorological data, among others. 38

5.2 Usability of data

The usability of data depends on the following non-exhaustive attributes:

1. Discoverability 4. Privacy-protected
2. Usefulness 5. Consent-based
3. Standards-based 6. Authorized access

FIGURE 5.1 Usability of data

Discoverability

Authorized
Usefulness
access

Usability of
data

Standards-
Consent-based
based

Privacy-
protected

Source: World Economic

Forum

Towards a Data Economy: An enabling framework 31

1. Discoverability: Discoverability enables data c. Efficient: The data should be
consumers to know of the existence of the comprehensive enough to create value
data in the first instance. It is established and / for the user and yet not be overloaded
or enhanced by the following activities usually with additional or redundant data that
undertaken prior to offering the data to a DEx: has limited or no utility.
d. Reliable: The data should not contradict
– Metadata: Defining metadata and hosting another piece of information in any other
it on a DEx enables the dataset to be established system or source.
discovered by the search engine of a
DEx. In addition, defining keywords would – Delivery comprises attributes of data that
enhance the results of the search. together enable seamless consumption,
assimilation and dissemination of data
– Data characterization: Summarizes the through the platforms and channels
general characteristics or features of the constituting a DEx. The data should be:
dataset. The datasets corresponding to the
consumer-specified criteria are typically a. Timely: The most-updated available
discovered by a query. version of data should be delivered to
be of value to the user.
– Data discrimination: Is a comparison b. Accessible: The data should be available
of the general features of the different through a channel that adheres to the
datasets which broadly meet the search user’s technology as well regulatory
criteria of the consumer. This enables the requirements in effect.
consumer to select the dataset best suited c. Secure: The data should be available
to its requirements. in a form and shape that protects the
privacy of data providers/owners and
– Data classification: Strategy brings minimizes exposure of any participant in
efficiency into the system, enabling more the ecosystem to cyber threats.
informed navigation and exploration of data
by the users and optimization of technology 4. Standards-based: Data should conform
infrastructure required to maintain and to the applicable semantic and syntactic
preserve such data. interoperability standards. These attributes not
only render it discoverable, but also enhance
2. Usefulness: Once discovered, the data should the facility of its use by the consumer due
be useful to the consumer. This depends not to ready availability of tools for processing
only on the relevance of the data to the purpose such standardized data. Sector-specific DExs
that the consumer has in mind, but also on three should promote the interoperability sources
essential attributes that the dataset should have: and / or development of such standards if
they do not exist. Standards should also be
– Usability comprises factors that are designed for metadata and for the formats of
considered prerequisites to enable using the outputs of data characterization and data
the data for the intended purpose. To be discrimination functions.
considered usable, the data should be:
a. Relevant to the context of any analysis 5. Privacy-protected: As alluded to in Section
or outcome expected 3, datasets may contain personal data or
b. Interpretable, to enable the users purely non-personal data or an intricate
to process the same and generate mixture of personal and non-personal data.
economically valuable insights Protection of personal data is one of the
c. Economical to justify cost-benefit over a foundational and inviolable principles of the
sustained period to meet the objectives digital world. Privacy-by-design is a norm that
of the consumer is required to be observed by all stakeholders,
including but not limited to data providers/
– Quality assesses data on additional intermediaries/consumers at various levels
conditions beyond basic usability, like and stages of a DEx. Personal data can
completeness, reliability, accuracy and be collected and processed only with the
verifiability that help generate a differentiated consent of the data provider for pre-specified
output, which is enriched and meaningful. To purposes. Regulators and/or governments
be qualitative, the data should be: should develop appropriate frameworks of
a. Accurate: The data should be correct data architecture that guide designers to
and free of errors of commission establish and adopt the principle of separation
and omission to be potentially of any of personal and non-personal data at the
economic value. schema level to ensure compliance with data
b. Verifiable: The users should be able to protection regulations.
trace back the information to its source
to build trust in the data and use the 6. Consent-based: Consent management is
same for informing decisions or other an essential requirement in dealing with any
outcomes. dataset that contains personal information or in

Towards a Data Economy: An enabling framework 32

 some geographies, even anonymized data that form. In this context, this section provides a
has its origins in personal data. A transparent set of key considerations that together ensure
privacy policy adopted by relevant DEx access to data for all authorized participants:
participants would facilitate the flow of the data
across various layers of a DEx, in compliance – No aggregation of data: Depending on
with the applicable regulations. As part of the domain and the purpose for which a
the Forum-led Data for Common Purpose DEx operates, data may be maintained in a
Initiative (DCPI) multistakeholder collaboration, federated manner, as it provides no single
a workstream is focused on elevating the point where all data is aggregated. All the
importance of consent in expanding citizen actions may be performed in a distributed
participation in the data-drive economy.39 manner by the ecosystem stakeholders.
– Data ownership shall remain with the
7. Authorized access: To unlock economic owner: Ownership of all the datasets in a DEx
value from any data it is essential that such and the associated intellectual property rights
data is available to all the requisite DEx (IPR) may continue to remain with the data
stakeholders in an accessible and interpretable provider/owner throughout the data lifecycle.

5.3 Building trust

Trust is an essential pre-requisite for the Within the scope of this paper, trust means:
establishment and sustained growth of DExs.
The challenge is to provide stakeholders with 1. Trust in the stakeholders operating in a DEx
clarity, control and comfort to empower them 2. Trust between the stakeholders operating in a
to be confident in active participation and data DEx
sharing. With trust as an essential requirement 3. Trust in the systems deployed in a DEx and
for exchanges, the Forum’s Data for Common 4. Trust in the integrity and genuineness of the
Purpose Initiative (DCPI), in collaboration with a transactions taking place on a DEx
multistakeholder community and the Centre for
the Fourth Industrial Revolution India, launched a The requirements of trust are outlined in Figure 5.2.
workstream to co-design frameworks for gaining
and maintaining trust in DExs through consent40.

FIGURE 5.2 Trust-enhancing processes

Trust in stakeholders
Establishing a transparent, multistakeholder governance and structure for redress on a DEx
Requiring publication of the privacy policies of stakeholders on their respective websites and on a DEx website(s)
Formulating anti-trust regulations for a DEx
Formulating a code of conduct for stakeholders

Trust between stakeholders

Providing standards-compliant systems for identification, authentication and authorization of the stakeholders and
individuals representing them
Ensuring effective enforcement of the contracts between the parties (for example, through smart contracts)

Trust in systems
Requiring all stakeholders to follow the principles of security-by-design and privacy-by-design, and publication of
their privacy-by-design principles on the website of a DEx
Requiring mandatory security audit and privacy audit of all stakeholders and publication of audit certificates

Trust in transaction authentication

Requiring periodic declarations on the trustworthy use of the data for the purpose(s) for which it has been
provided and procured
Providing a testing environment on a DEx platform for prospective data consumers to test the data quality and utility
Ensuring non-repudiation of the transaction by adopting appropriate technological means like use of distributed
ledger technology (DLT)
5.4 Multistakeholder approach

The data economy is large, complex and inter- of rules for engaging with a DEx (3) adoption of
woven. The “network effect”, which needs to a risk management strategy and (4) inclusivity.
be leveraged to realize the immense potential Identification and clear articulation of the value
of data, implies that there would be intricate proposition of a DEx is an essential first step in
relationships between various data ecosystems building the community.
and datasets. Such relationships need to be
defined and developed in a careful and responsible While a champion may be necessary for creating
manner, to ensure that data is used for the benefit the initial visibility and momentum for the concept
of the community, individuals or businesses as of a DEx, it may not always be sufficient for
per agreed norms and, equally importantly, not growth and sustainability. A formal or semi-formal
misused by any stakeholder to cause harm or to organizational structure may be required. A
enable undue enrichment. A collaborative effort by consortium can possibly play the critical initial role
all stakeholders would enable such a balance. of defining the governance framework for a DEx,
establishing a DEx itself, creating a strong initial
Community building is an essential step in a use case to demonstrate the new value and for
multistakeholder approach. This involves adoption developing an open-standards-based platform.
of certain core principles: (1) recognition of the A consortium may be government-led, business-
rights of the data providers/owners and repatriation led or standards-led, depending on the context in
of a rightful portion of the economic benefits arising which DEx is proposed to be established.
out of the use of their data (2) a transparent set

Towards a Data Economy: An enabling framework 34

6 Looking Ahead

Towards a Data Economy: An enabling framework 35

A flourishing data economy benefits the stakeholders. Any such DExs must be rooted in
government, citizens, industry, business, ethical frameworks that respects the rights of the
innovators and researchers in multiple individual parties involved, including businesses.
ways ranging from enhanced efficiency and
transparency to creation of new economic In this context, the issues raised, such as privacy,
value through innovation. India is well poised to security, promoting innovation, preventing anti-
realize the benefits of a digital economy–- with competitive practices, techno-legal regulatory
its well-established information technology and frameworks and incentive mechanisms, are
communication infrastructure and multiple digital neither static nor straightforward. This paper
ecosystems like digital identity and digital payment aims to develop a data ecosystem that supports
systems. Many are of the opinion, that the data sharing through DExs. As such, it serves
immense potential of the data economy can be as a starting point to discuss and develop a
realized, inter alia, by promoting the establishment collective understanding of the various challenges
of DExs through open, federated and scalable in developing such an ecosystem and to enable
architectures, by appropriate governance DExs thereby to unlock the potential of data-
mechanisms to ensure equity and transparency driven economies for common purpose.
and by protecting the rights and interests of all

Towards a Data Economy: An enabling framework 36

Contributors
This white paper is based on the consolidated research. The opinions expressed herein do not
views of the Centre for the Fourth Revolution necessarily reflect each individual or organization
India, the Data for Common Purpose Initiative involved in the project or process. Sincere thanks
(DCPI) community and shared ideas. It is a are extended to those who contributed their
combined effort of all involved based on numerous insights, including those not captured below.
discussions, workshops, feedback groups and

Lead Authors

Satyanarayana Jeedigunta Nadia Hewett

Chief Adviser, Centre for the Fourth Industrial Project Lead, Data for Common Purpose Initiative,
Revolution India Data Policy and Blockchain, World Economic
Forum LLC
Purushottam Kaushik
Head, Centre for the Fourth Industrial Revolution Arushi Goel
India Project Specialist, Data Policy and Blockchain,
Centre for the Fourth Industrial Revolution India

Acknowledgements

Tinku Acharya Rama Devi Lanka

Founder and Managing Director, Videonetics Director, Emerging Technologies, Government of
Technology Pvt. Ltd., India Telangana, India

Hemant Adarkar Rikin Gandhi

Visting Senior Fellow, IDFC Institute, India Chief Executive Officer, Digital Green, India

Prateep Basu Ashish Gangrade

Co-Founder and Chief Executive Officer, SatSure, Vice President (Project), TATA Industries Limited,
India India

Subhashish Bhadra Debjani Ghosh

Principal, Omidyar Network India, India President, NASSCOM, India

Ronit Bhattacharyya Inder Gopal

Associate Director, PwC, India Chief Executive Officer, Indian Urban Data
Exchange, India
Swati Bhide
AP Blockchain GIU Leader, IBM, India Ravi Goyal
Lead Architect, RedHat, India
S. Chakravarthy
Former Member, Monopolies and Restrictive Trade Arvind Gupta
Practices Commission, India Head and Co-Founder, Digital India Foundation, India

Praphul Chandra Sangeeta Gupta

Founder and Chief Executive Officer, KoineArth, India Senior Vice-President and Chief Strategy Officer,
NASSCOM, India
R. Chandrashekhar
Chairperson, Centre for the Digital Future, India Tiska Gupta
Manager, GenPact, India
Srinivas Cherla
Co-Founder, Sustain Impact, India Zohar Hod
Founder and CEO, One Creation Corporation, USA
Fergus Cloughley
Director and Chief Executive Officer, Obashi, Mohit Kapoor
Scotland Group Chief Technology Officer, Mahindra Group,
India

Towards a Data Economy: An enabling framework 37

Raja Sekhar Kommu Amey Rajput
Co-Founder and Chief Technology Officer, General Manager – Blockchain Business, Tech
Karkinos Healthcare, India Mahindra, India

Fumiko Kudo Jayesh Ranjan

Project Strategy Lead, Centre for the Fourth Principal Secretary, Industries and Commerce,
Industrial Revolution Japan Government of Telangana, India

Hima Kunisetty Neel Ratan

Solution Architect, RedHat, India Managing Partner, PwC, India

Ashwani Mahaldar Anna Roy

Director, PwC, India Advisor, NITI Aayog, India

Snehanshu Mitra Sunil Senan

Head, Centre of Excellence – Data Science and AI, Senior Vice-President and Business Head, Data
NASSCOM, India and Analytics, Infosys, USA

Aleen Mukherjee Rishu Sharma

Chief Operating Officer, National Derivatives and Associate Research Director, Cloud and AI,
Commodities Exchange (NCDEX) Institute of International Data Corporation, India
Commodity Markets and Research, India
Beena Shekhar
Tomoaki Nakanishi Manager, GenPact, India
Executive Director, Japan External Trade
Organisation (JETRO), World Economic Forum Ravindra Shevade
Fellow, USA Chief Operating Officer, NCDEX eMarkets Ltd., India

Jayant Narayan Vineet Singh

Project Lead, Artificial Intelligence and Machine Platform Architect, Digital Green, India
Learning, World Economic Forum, Switzerland
Shekar Sivasubramanian
Didier Navez Head, Solutions and Operations, Wadhwani AI, India
Senior Vice President, Dawex, France
Akhilesh Srivastava
Praveen Nayyar Former Chief General Manager (IT&CO), National
Professor (retd.), NYU Stern School of Business, USA Highway Authority of India, India

Mrugank Paranjpe Rohini Srivathsa

Managing Director and CEO, NCDEX e Markets National Technology Officer, Microsoft, India
Ltd., India
Saurabh Thukral
Devansh Pathak Senior Specialist, NITI Aayog, India
Specialist, Community Engagement for Start-up
Ecosystem, Centre for the Fourth Revolution India Darshan Wakchaure
Global D&A and AI Competency Lead, Tech
Yogesh Patil Mahindra, India
Chief Executive Officer, Skymet Weather Services
Pvt. Ltd., India

Towards a Data Economy: An enabling framework 38

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Towards a Data Economy: An enabling framework 39

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