BANGALORE: The chief operating officer of Facebook, Sheryl Sandberg, said, "No other country has the potential that India has”, also added that in India there are more than 100 million users and 1.2 billion users worldwide and she wants to ensure that access to Internet in India is faster, better and cheaper, reports Business Insider.
“India is Facebook’s second largest market, fastest growing market, and fastest growing Internet connectivity in APAC. It is of high priority for us,” Sandberg said.
The California based company has plans to set up a research and development facility in India. "We have started expanding our R&D slowly beyond the US. India is certainly a market we would look at. We have been investing in India and we are willing to invest more because the returns are so great to our global and local business. We also want to develop this market, and I think that will happen as people go online," she added.
Facebook's global technological advancement will continue to grow. Some of the developments in terms of technology and application that includes many things for 'Facebook for featurephones' were done in India.
Sandberg said, "It then rolls out to other featurephone-heavy markets. So we look to India to contribute to our global business.”
According to her, Facebook has already started monetizing in India and its growth phase is well on track. "Our goal is to grow while connecting the world," she added. However, Facebook is not present in China, the most-populated country.
Facebook is open to many acquisitions in India irrespective of its size, and it made its first acquisition in India in January this year by purchasing a Bangalore-based software product start-up, Little Eye Labs