Data is not new oil, shouldn’t be hoarded within nations: Facebook counters Mukesh Ambani

NEW DELHI: Countering richest Indian Mukesh Ambani, Facebook Inc on Thursday said data is not the new oil, and countries like India should allow its free flow across borders instead of attempting to hoard it as a finite commodity within national boundaries.

Facebook Vice-President, Global Affairs and Communications, Nick Clegg said data sharing is crucial for national security as India right now finds itself “locked out” of major global data-sharing initiatives aimed to clamp down on serious crime and terrorism.