India, June 19 -- This time last year, companies were scrambling to get compliant with the EU's General Data Protection Regulation (GDPR), which went into effect on May 25, 2018, and aims to give individuals more control over their personal data. GDPR applies to any company that holds personal data of individuals residing within the EU, and failure to comply with GDPR could cost companies up to EURO 20M or 4% of annual global turnover. As a result, we saw most take a 'sky is falling' approach leading up to the enforcement deadline.

According to a PwC survey, more than 40% of companies, including American companies with a data presence in the EU, spent over $10 million preparing to comply with GDPR, but according to an April 2019 study, o...