Facebook, which is the world's largest social networking site with over one billion users globally, has more than 40 million (four crore) active small business pages on its platform.

"India has more than 1.5 million (15 lakh) SMB Pages and is growing at over 70 percent year-on-year," a Facebook official told reporters.

In June last year, the US-based firm had said it had nine lakh SMBs on board from India, while the global SMB userbase was at 3 crore.

With social media becoming an important part of life, especially for youngsters, consumers are actively using social networking sites like Facebook and Twitter to get feedback on products and services.

Businesses are looking at tapping this information and many of them, especially the large consumer product companies, have already established their digital presence.

Companies are looking at leveraging Internet to reach out to a huge number of consumers in a cost-effective way and at the same time strike a more personal bond with them through targeted marketing.

As of 2010-11, India had about 311.52 lakh MSMEs, providing employment to around 732.17 lakh with a fixed investment of Rs 7.74 lakh crore and production worth about Rs 10.96 lakh crore.

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