Speaking at Times Network India Digital Fest, Devanathan said despite sombre conditions, the company remains optimistic about the opportunities that the country presents.
Asked about impact of challenges flowing in from the West and whether it could disturb India's 'techade' era, she said, "The news is grim, isn't it. Banks failing, Silicon Valley Bank, Credit Suisse, interest rates rising, more turmoil in market, capital market funds drying up, VC funding drying up. So, I think the macro economic conditions certainly look grim. It will be fallacy to think that India will be immune to everything that is happening globally."
However, she said there are many positives that will keep businesses relatively protected in India. "What I see is actually a tale of two cities. I see a story of resilience in India, and I think that's powered by a bunch of things - economic resilience, the digital governance, which is enabling inclusion for millions of people, and a very strong and robust startup eco system.
She said that Meta will be training 10 million small businesses over next three years to get them on to digital platforms. Also, the company will support 2.5 lakh digital creators, apart from being "future focused" on opportunities around.
She said that Meta and its platforms - Facebook, WhatsApp and Instagram - remain particularly excited about small businesses in India. "We brought millions together during Covid-19 pandemic. When the world was shut, internet was open... We remain particularly excited about small businesses. Anybody can now set up their offline business online, using social media platforms."
She said Meta is now making efforts to connect the next half-a-billion Indians to the internet. "Our platforms are the first port of call for many Indians... (and) we remain excited about getting the next half-a-billion online as well. This will also help in inclusion and increasing access."
Women entrepreneurs have also gained from growing role of digital and online, she added.
India not immune to headwinds in tech world, remains resilient: Meta India head - Indiatimes.com
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