Facebook hopeful of earning big revenues as India user base nears 100 million

India is reportedly on its way to become the biggest market for Facebook in terms of number of users later this year.

The popular social network site is hoping to cash in on its growing user base in India, which has touched nearly100 million.

According to Tech Crunch, India's online advertising market maxes out at around 360 million dollars, making it difficult for the company to translate this horde of users into a billion-dollar business.

The biggest user markets that are mostly outside of the US, seldom serve as top revenue sources for companies such as Facebook and Twitter.

However, Facebook plans on targeting around 50 million tech-savvy SMBs in India, who also use smartphones with Facebook to connect with consumers, in order to earn big ad revenues.

Andy Hwang, Facebook's director for SMB business in Asia Pacific said that it's a huge opportunity and the company is just getting started, adding that it is building products and features that target the needs of SMBs who can start with the social network site for as little as 5 dollars daily.