Millennial are open to technology and have incorporated it into their lives. Technology has paved its way in various sectors, but the higher authorities in the world, for now, are not ready to deal with its nuances. Talking about social media and its significance in our lives, it has recently been through a roller coasters ride. Earlier this year, Facebook was undermined for one of the biggest security breaches. To overcome these challenges, Facebook has doubled its annual spending on advertising and legal in India. After facing challenges from regulators to deal with numerous incendiary messages exchanged on the platform.
Facebook Makes Efforts to Control Privacy and Data Breach in India
Recently, Facebook India’s promotional and advertising spends went up by 122% to Rs 94 crore. Its legal department cost has reached up to 85% to Rs 78 crore. Several companies are facing regulatory issues due to a privacy breach and data misuse. For instance, the Menlo Park-based company has faced great opposition due to its data misuse and privacy breach. Indian regulators and government are keeping an eye on social media giants to know how they manage their privacy concerns. It is more crucial especially few months before national elections.
As per market research, Facebook has 294 million users making it the largest market globally. Another business research platform analyzed that social media giant’s profits went up 40% to Rs 57 crore in March end. Thus, at this huge platform, the social media giant is making efforts to understand public perception after going through an intense inquiry from policymakers.