India should ensure the growth of the digital economy while keeping personal data of citizens secure and protected. No one will innovate in a surveillance-oriented environment or in a place were an individual's personal information is compromised. The ultimate control of the data must reside with the individual who generate it; they should be enabled to use, restrict or monetise it as they wish. Therefore, data protection laws should enable the right kind of innovation - one that is user-centric and privacy protecting.

Based on the above passage, the following assumptions have been made.
1. Protections of privacy is not just a right, but it has value to the economy.
2. There is a fundamental link between privacy and innovation.

Which of the above assumptions is/are valid ?