According to Sheryl Sandberg, COO, Facebook, India, an emerging global economic power, has the potential to become the largest economy in the world.
According to Sheryl Sandberg, COO, Facebook, India, an emerging global economic power, has the potential to become the largest economy in the world.
She also said the over $2 trillion Indian economy has immense potential to create jobs and drive growth, especially with its huge base of SMBs.
“India has the potential to become the largest economy in the world. If you look at economic growth, particularly recently, jobs is a hard situation all over the world. From the US to developing markets, everyone is very concerned about jobs. And majority of the growth, as I understand it, is certainly here and in the US. In most countries, I have visited, SMBs are the way to growth,” she said.
Explaining further, Sandberg, whose previous stint was as vice president of global online sales and operations at Google, said, “The answer to growth is entrepreneurship”.
“Individuals are creating businesses and employing other people, and in India, the SMB growth is strong. And Internet provides more growth stories to SMBs. People are connecting to people and getting more customers and that’s what leads to economic growth,” she added.
She said Facebook wants to be a part of the growth story in India, which is on the cusp of leapfrogging ahead in economic as well as social development. India has the world’s third largest Internet userbase with over 200 million users. “India is Facebook’s second largest fastest growing market. It is of high priority,” she said.
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