Social media giant Facebook renewed its focus on India at the inaugural Facebook Fuel For India 2020 Summit. Facebook said focus areas for 2021 include a focus on small businesses to help Boosting economic recovery in the post COVID era as well as participating in government efforts to push for financial inclusion of millions of people in India through the Unified Payment Interface (UPI), with WhatsApp playing a major role. Facebook says investing in Jio platforms earlier this year is an important part of the drive to bring more than 60 million small businesses online.
At the Facebook Fuel For India 2020 Summit, Facebook said the new Nayi Shuruaat campaign aims to highlight the real stories of how small businesses got connected during the COVID pandemic and the lockdown that followed to maintain the source. stable income, and in some cases restart the source of income. “What is happening in India is important to the whole world. India is building local capacities and technological capacity to fuel innovative new business models and provide citizens with access to digital financial inclusion. So the decisions made here shape the global debate on how technology can generate more economic opportunities and better outcomes for people, ”said Mark Zuckerberg, Founder, CEO of Facebook.
There is also an emphasis on digital payments, in particular UPI. “We actively support the government’s efforts to stimulate economic growth through financial inclusion under the Unified Payment Interface (UPI) and to bridge the digital divide on the Internet. WhatsApp, through its partnerships with various financial institutions, also enables a wide range of fintech solutions such as micro-pensions, digital insurance products and others to empower disadvantaged people. We have built affirmative programs to bridge the digital gender divide and boost rural entrepreneurship through digital competence, ”Facebook says in an official statement. Facebook offers the WhatsApp Pay payment option to users through WhatsApp, which relies on UPI for payments and money transfers.
Facebook will also add new features to the Facebook, Instagram and WhatsApp apps, and believes that the rollout of 5G networks will further push the consumption of media content on these platforms. “Globally, over 1.25 billion people visit Watch each month to discover and share videos from millions of creators and publishers, and India is one of Watch’s top markets. Our video strategy for India truly reflects the breadth of consumer tastes in the country and we will continue to invest in films, music and cricket to build engagement and give our community what it wants ” , says Facebook.
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