Meta sees India as a 'priority' market
What's the story
Meta India's chief, Sandhya Devanathan has emphasized the importance of the Indian market in a recent interview with PTI.
She called India a "huge priority market" with "limitless" possibilities, citing its macroeconomic growth, digital infrastructure, and the popularity of Meta's apps including WhatsApp, Instagram, and Facebook.
Devanathan also praised the new Digital Personal Data Protection legislation for providing clarity and a framework for tech companies. She said the legislation marks "a great step in balancing user protection with innovation."
Stats
There are 400 million Facebook users in India alone
India is among Meta's largest user bases worldwide, with 400 million Facebook users alone.
With advertising dollars as a percentage of GDP being one of the lowest here compared to other markets, Meta sees India as a place to innovate, engage with users, and grow its business.
Devanathan also spoke about Meta's commitment to tackling misinformation on its platform and its use of AI to curb hateful content.
Insights
Several Indian businesses are establishing their online presence via Meta
India's goal of a $1 trillion digital economy by 2030 presents significant opportunities, according to Devanathan.
Small businesses are increasingly using Meta platforms and tools, with many Indian businesses establishing their first online presence through Meta.
"India is also the place where we test a lot of what we roll out globally as well. It has also been where we develop a lot of our innovative products and that investment will continue," she said.