Facebook says it is deeply committed to investing in and nurturing India's digital economy

Social media giant Facebook is deeply committed to investing in and nurturing India's digital economy, with a particular focus on helping small businesses, its India Managing Director Ajit Mohan said on Wednesday.

"Facebook as a company is deeply committed to investing in and nurturing India's digital economy, with a particular focus on helping small businesses, helping the agenda of job creation. And, our commitment is to work with other players in the ecosystem to see how we can create material impact," Mohan said while speaking at a CII event.

He added that the company intends to be an "ally" to India as the country goes through this "exciting economic and social transformation" with a particular focus on building tech capacity and local infrastructure that can accelerate the country's transformation agenda.

Mohan highlighted that India has seen an acceleration in adoption of digital faster than any country in the world, and new technologies will continue to play a very defining role in shaping the future of the country.

"New technologies can fundamentally change the course of industries and our lives and imagining that next decade...the role of new technologies really means thinking about new ways in which we can build capacity in India... It means improving our global competence in an interconnected world," he said.

Mohan said there is a need to continue building an ecosystem -- through participation and investment from industry players and the government -- that drives innovation to create new business models propelling the economy and improve the quality of life for people.