Lately, we have been hearing about the new IT law, being implemented by the Govt. of India, and with reference to that, many social media giants like Facebook, Instagram, Twitter have to comply to these laws by 26th May, which is today.
Now initially, the Govt, had given these giants a timeframe of 3months to comply with the policies, but the companies, had asked for 6 months atleast. As India, is a huge market for each and every online entity of this scale, everyone is looking forward to comply with the laws, but the issue is with regards to TIME!
Now, there can be a long debate regarding the pros and cons of the new policy, but we are not here to discuss that. If you want to know about the policy in detail, here’s a link to that.
With that said, we are here to discuss a different aspect to this possible ban of these Social Media Giants.
Table of Contents
The Business Aspect of things
It’s nothing new, that all of these tech giants, are used by various businesses around India, to market their products, and services. In the last 2 to 3 years, various companies like Digital Marketing Agencies, Talent Management Firms, have grown based on these platforms. Social celebrities, influencers, drop-shippers etch, are all dependent on these platforms for their livelihood.
This system is like a chain. On one side, the small and medium brands are dependent upon, these platforms for marketing their products, and the tech giants are dependent upon the ad-revenue that comes from it. So as far as banning the platforms, is concerned many of these small businesses will get affected greatly.
As I mentioned earlier, it’s like a chain. So when these businesses get affected, the pressure simultaneously goes to their employees and customers. Employees get fired, and customers shall be deceived from quality services. And this whole series of events just keeps on continuing.
If you have read this far, probably you have got the idea, of what I am talking about. But here are some references to back my statements.
Reality Check
- Facebook India’s net ad revenue almost doubles to Rs 520.4 cr in FY20 (SOURCE)
- Digital advertising in 2019 witnessed a 26% increase from 2018 to reach Rs. 13,683 crore, where the overall advertising growth was 9.4% as per the report by Dentsu Aegis Network.(SOURCE : upGrad)
- Instagram shopping is transforming small and medium businesses in India
Conclusion
This was just one side of the story. There may be issues that need to be solved by the these Tech Giants, but what I feel is that “BANNING” is not a great solution to the problem. Banning any such big entity, will lead to the harm of our own citizens, who are greatly dependent on these platforms.
Instead the solution should more-over lean towards a mutual understanding, where both sides are heard with equal importance.
DISCLAIMER : These were just my personal thoughts on the above-mentioned issue. It was just a single side of the situation that I wanted to bring-out infront of our readers.
If you have any suggestions, and thoughts do let us know, in the comments below, and I would be more than happy to have a pleasant conversation with you.
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