I believe we have new eCommerce Policy in the works currently which covers more ground on data localization and how SaaS products in India should adhere, but again, it is a
Bill Draft and not a Bill or an Act. So it’ll be a while before it becomes a law.
https://dipp.gov.in/sites/default/files/DraftNational_e-commerce_Policy_23February2019.pdf
Although I expect it to be close to what GDPR is as majority of our constitution is
inspired by EU nations. And fortunately GDPR-like act will be much easier for providers to adopt with little to no changes in T&C.