Federation of Indian Chambers of Commerce & Industry (FICCI) and social networking giant, Facebook, has come together aiming to leverage the Indian small and medium enterprises through internet and social media platform.
Federation of Indian Chambers of Commerce & Industry (FICCI) and social networking giant, Facebook, has come together aiming to leverage the Indian small and medium enterprises through internet and social media platform. As per FICCI, the partnership is expected to expand Facebook’s global Small and Medium Business (SMB) boost programme in India and helping the SMEs with their educational resources and free advertising to start and grow their business online.
“India presently has around 6400 industrial clusters, of which nearly 6000 are “low tech”. Poor technology adoption remains a major cause for poor operational and marketing competitiveness in the sector. Facebook and FICCI aim to make technology a driving factor for enhancing the global competitiveness of the Indian SME sector through this collaboration,” said FICCI in a release.
While SMEs which are seen as the back bone of India’s growing economy have also majorly contributed to other developed economies in the world, the social media helps in both brand building and its promotion.
Announcing the partnership, Marne Levine, Facebook’s Global Vice President of Global Public Policy stated, “The SME sector has proven to be the growth engine of most global economies. Social media has the potential to drive tremendous economic growth and job creation in India. As we’ve seen in the United States and Europe, social media is generating growth in the economy, creating new jobs and redefining how businesses interact with their customers. It is this experience and insight that we would now like to bring to India through our partnership with the MSME and FICCI.”
Facebook currently has 46 million users in India and with FICCI it is focused on helping promote growth, jobs and skills among SMEs.