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Facebook CEO Mark Zuckerberg says committed to India’s growth, outlines key focus areas for 2021
Facebook CEO Mark Zuckerberg said what happens in India is important for the whole world as decisions made here shape the global discussion about how technology can drive more economic opportunity and better outcomes for people.
Zuckerberg spoke on the India opportunity at its virtual event called ‘Facebook Fuel for India’ on Tuesday.
“What happens in India is important for the whole world. India’s building local capabilities and tech capacity to power innovative new business models and provide the citizens access to digital financial inclusion,” he said.Facebook said the largest communities for Facebook and WhatsApp are in India and Instagram is getting there, making the country a key market to test and roll its new features.
From the launch of Reels on Instagram, to Watch on Facebook and Payments on WhatsApp, India is playing a crucial role in the way products are being designed for the future, the social media giant said in a statement.
Facebook said nearly 700 million people in India have access to the internet, which is fueling the creation of innovative new enterprises in everything from entertainment to healthcare and education.
It added that as the world grapples with the economic impact of the pandemic, it believes that it has an important role to play in the economic recovery of businesses, especially small businesses.
Every month, 200 million small businesses globally use the Facebook family of apps to reach potential customers and build their business, it stated, adding that there are 15 million WhatsApp Business app users in India.
Facebook said it is focussed on driving economic recovery in 2021 by working with small businesses in India. It also wants to offer newer video experiences on Facebook, Instagram and WhatsApp.
Facebook said moving forward, it expects India’s appetite for video to only increase with 5G adding a new dimension to video viewing experience.
It added that India is one of the leading markets for Facebook Watch, and it will continue to invest in Movies, Music and Cricket to drive engagement as part of its video strategy.
WhatsApp, through its partnerships with various financial institutions, will enable a broad suite of fintech solutions like Micro-pensions, digital insurance products, and others.
Facebook has bought minority stakes in Jio Platforms, and startups like Meesho and Unacademy. NewsRobin
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