Why India Requires An Economic Espionage Act
India needs a new legislation in the form of an Economic Espionage Act, based on the Law Commission's 2024 report.
The Law Commission of India’s 2024 report, titled “Trade Secrets and Economic Espionage,” calls for a Trade Secrets Bill and a separate, stricter legal framework to address economic espionage.
Economic espionage refers to an “act of deliberate acquisition of confidential information from domestic companies and government entities to benefit a foreign State”.
The theft of sensitive trade secrets threatens not only business interests but also poses significant risks to a nation’s economic security.
The Law Commission’s report highlights the key distinction between economic and industrial espionage lies in the perpetrator.
Author's summary: India needs an Economic Espionage Act.
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