Meta intends to bolster the credibility of MSMEs by extending its 'Meta Verified' tag to such businesses in India. Vikas Purohit, director and head of the small business group at Meta, stated during discussions with the media in Ahmedabad that the proliferation of counterfeit business ads and scams on Meta's platforms like Instagram, Facebook, and WhatsApp is on the rise. Purohit emphasized the importance of ensuring consumer confidence in the legitimacy of businesses, expressing their plan to broaden the application of the Meta Verified badge to businesses operating in India.
"The timeline for this progress has not been finalized, but our efforts began in September 2023, and we plan to unveil it soon," he mentioned. "Businesses will have the option to select between a single-app subscription or a combined subscription across Instagram, Facebook, and WhatsApp. Subscribing monthly will grant businesses access to a toolkit tailored for their subscribed Facebook page, Instagram professional account, or WhatsApp phone number".
"Approximately 3.96 billion people, nearly half of the global population, utilize Meta applications, sending approximately 140 billion messages per day. Worldwide, about 200 million businesses use WhatsApp, exchanging roughly 600 million business messages daily, with 60% of individuals sending business-related messages daily", he stated. He further added, "Over time, we've actively supported the growth of small businesses by crafting products, solutions, and programs tailored to their specific requirements. We observe a significant momentum in how businesses leverage WhatsApp to propel their growth. Meta remains committed to developing suitable tools that empower these businesses to thrive in the digital realm".
"In September, Meta disclosed its plans to introduce Meta Verified for businesses in specific nations. Monthly subscriptions begin at $21.99 for each Facebook page or Instagram account, or $34.99 for both. Additionally, earlier this year, Meta inaugurated the Meta Small Business Academy, aiming to enhance the skills of 10 million small businesses. To achieve this objective, Meta has partnered with the Confederation of All India Traders (CAIT)".