India is not only a big market in terms of data on big tech users but also includes revenue. Social media giant Facebook's India revenue has increased to $1 billion due to the digital boom and growth in platforms like Instagram, Facebook. According to a report received, Facebook's India revenue increased to Rs 9,000 crore or $1.2 billion from Rs 6,613 crore in the previous fiscal in 2020-21.
The actual figures will come out when the California-based headquarters file them with the Registrar of Companies. The growth of platforms in India over the years has been unprecedented due to several factors such as a fall in data prices and cheaper smartphones. Lockdown also helped in the development of social media and internet companies as people stayed at home and took to the Internet for everything from entertainment and studies to shopping.
At the same time, online advertising was largely benefited from digital push, leaving tech players like Google and Facebook at the top. Ajit Mohan, Managing Director, Facebook India told TOI that last year there was a change in users not only going online but also online engagement with business and brands. This has led to an increase in online marketing spending which has driven the development of digital advertising in India.