India: Internet giants need to re-invest profits in India to generate jobs

Global technology giants should reinvest part of their profits for development of infrastructure and job creation in revenue generating countries such as India, the country’s Union Minister of Electronics and IT, Ravi Shankar Prasad, said.

Speaking at the G20 Digital Economy Ministerial meeting in Argentina, the Minister said the largest and most dynamic markets for digital services are in Asia, Latin America, and Africa, with India having one of the largest footprint of several popular social media and other digital platforms.

“It is only fair and just that some of the revenue and profit generated from these platforms be equitably reinvested in the largest markets to create more infrastructure and generate more job opportunities for the people there,” an official release quoted him as saying.

During the meeting, the G20 member nations agreed to promote policies that will contribute to bridging all forms of the digital divide, with special attention to the digital gender divide.

Full Content: The Times of India

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