Why India Needs an Economic Espionage Act
According to the Law Commission of India's 2024 report, "Trade Secrets and Economic Espionage," India requires new legislation in the form of an Economic Espionage Act.
The report emphasizes that the theft of sensitive trade secrets poses significant risks to a nation's economic security, threatening both business interests and national security.
An act of deliberate acquisition of confidential information from domestic companies and government entities to benefit a foreign State
is defined as economic espionage, with a key distinction from industrial espionage lying in the perpetrator.
The Law Commission's 200-page report calls for a Trade Secrets Bill and a stricter legal framework to address economic espionage.
Author's summary: India needs an Economic Espionage Act to protect its economic security.
- Trade Secrets Bill
- Economic Espionage Act