The company reiterated the risk to its operations in India due to the proposed data protection framework.
New Delhi:
Social media major Meta said in a regulatory filing that India is among the top three countries contributing to the growth of active users for Facebook by December 31, 2022.
The company projects a 4 percent increase in worldwide daily active users (DAUs) to an average of 2 billion during December 2022 from 1.93 billion during December 2021.
“Users in India, the Philippines and Bangladesh represented the top three sources of growth in DAUs during December 2022, relative to the same period in 2021,” Meta said.
The company defines a daily active user as a registered and logged-in Facebook user who visits Facebook through its website or mobile device, or uses the Messenger application (and is a registered is also a Facebook user).
Monthly active users (MAUs) by December 31, 2022 grew by 2 percent from December 31, 2021 to 2.96 billion.
India was also among the top three contributors in terms of monthly active users.
“Users in India, Nigeria and Bangladesh represented the top three sources of growth in 2022, relative to the same period in 2021,” Meta said.
The company reiterated the risk to its operations in India due to the proposed data protection legal framework in India.
“In addition, some countries, such as India and Turkey, are considering or have passed legislation imposing data protection requirements or requiring local storage and processing of data or similar requirements that may apply to our services. could increase the cost and complexity of distributing U.S. goods and services, causing us to discontinue offering our products and services in certain countries, or result in fines or other penalties, the February 1 filing said.
Meta also cautioned investors that content hosted on its services could result in fines, orders restricting or blocking services in specific geographic regions, or other government-imposed measures, citing the examples of India and Germany. may also be encountered.
“For example, legislation in Germany and India has resulted in the past, and may in the future, result in the removal of certain content, cooperation with law enforcement, and the imposition of fines or other penalties for failure to comply with disclosure obligations,” said the filing.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
featured video of the day
Decoding Budget 2023 via Financial Influencers