The small and medium enterprises are likely to get a boost as industry body Federation of Indian Chambers of Commerce and Industry (Ficci) has partnered social media site Facebook to provide them with educational resources and free advertising.
The partnership will expand Facebook's global small and medium business (SMB) boost programme here and provide SMEs with educational resources and free advertising to help them get started and grow their businesses online, Ficci said in a release here.
Facebook and Ficci aim to make technology a driving factor for enhancing the global competitiveness of the SME sector through this collaboration, it added.
"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. As we have seen in the US and Europe, social media is generating economic growth, creating new jobs and redefining how businesses interact with their customers. It is this experience and insight that we would now like to bring here through our partnership with the MSMEs and Ficci," Facebook vice-president for global public molicy Marne Levine said.
A report by analyst firm Deloitte said, Facebook adds an estimated 15.3 billion euro value to the European economy and supports more than 2,32,000 jobs across the region.
Facebook has 46 million users in the country and offers a significant growth option for Indian SMEs here, just as it has in Europe, Ficci said.
"The SME sector is an area of critical focus for Ficci considering its impact to innovation and growth. In addition to working with Facebook to provide this boost to our members, Ficci and Facebook will also integrate training sessions on online marketing through social networks in its tradeshows and Conferences for SMEs," Ficci President RV Kanoria said.