‘Mushrooming’ India Growth Potential Driver for Facebook's Libra
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Facebook Inc.’s new cryptocurrency system Libra will be counting on continued explosive growth from emerging markets and especially India to succeed, according to strategists with Jefferies Financial Group Inc.
While Facebook’s user growth in North America and Europe has slowed, the social media giant’s base in India has doubled since 2015 to about 310 million people -- and is forecast to balloon to around 440 million by 2023, according to a June 19 report from strategists led by Sean Darby.