A Study on Ethical Governance of Consumer Data in the Digital Economy Organisations in Mumbai

Abstract

Consumer data has become a vital organizational resource in the modern digital economy, facilitating innovation, operational effectiveness, and competitive advantage. However, the extensive collection, processing, and utilisation of personal and behavioural data raise significant ethical concerns related to privacy, informed consent, transparency, and data security. This study examines the ethical governance of consumer data in organisations operating in Mumbai, one of India’s major digital and commercial hubs. The primary objective of the research is to analyse the relationship between ethical governance practices and stakeholder trust in data management. The study employs a quantitative research design based on primary data collected through a structured questionnaire from employees and customers of technology-enabled firms. Convenience sampling was used to choose 56 respondents as a sample. Descriptive statistics, correlation analysis, and regression-based hypothesis testing were among the data analysis methods used. The findings indicate a moderate to strong positive relationship between ethical governance practices and stakeholder trust, suggesting that organisations with transparent data policies, ethical standards, and effective governance frameworks are more successful in gaining stakeholder confidence. The results of the study indicate that in addition to being mandated by law, ethical consumer data governance is also essential for establishing an organization's credibility, credibility, and long-term survival in the digital economy.