Balancing Innovation & Regulation: Priyank Kharge's Vision For Gaming, Crypto, And Data Privacy

Priyank Kharge, Minister for IT and Biotechnology in Karnataka, emphasised the need for collaborative efforts between state governments and the Union government to develop progressive regulations that protect consumers without stifling industry growth. During his conversation with Siddharth Zarabi, Editor of Business Today, at the Business Today-India Today AI Conclave 2024, Kharge stressed the importance of creating a regulatory framework that accounts for the global nature of industries like online gaming and cryptocurrency. He highlighted that these sectors often operate across borders, making global regulation essential for ensuring fair practices and minimising risks.  Addressing the issue of online gaming and its potential for addiction, which sometimes leads to tragic incidents, Kharge stressed the need for a global policy to determine who bears the primary responsibility for such issues. “A mobile phone is no longer a luxury; it’s in everyone’s hands, even in my constituency,” he remarked.  On the taxation of the gaming industry, Kharge emphasised the importance of collaboration. “You don’t cut off your nose just because you have a cold,” he said. He pointed out that various types of online games are contributing significantly to government revenue but are burdened with retrospective charges that amount to crores. Kharge mentioned that he had made recommendations to address these issues and was not solely placing the responsibility on the central government.  On the subject of the data protection bill, Kharge criticised the government’s lack of progressive data security laws. “What’s happening to privacy? The Shri Krishna commission’s report was supposed to lead to data privacy legislation, but now it’s in court because there was no consultation with the public or industry. If consultations had taken place, why would the courts be involved?” he asked.