Anand Mahindra, the chairman of Mahindra Group, a Mumbai-based business conglomerate, has said that he is willing to fund an Indian social media start-up in order to challenge Facebook.

His tweet reads, “Beginning to wonder if it’s time to consider having our own social networking company that is very widely owned & professionally managed & willingly regulated. Any relevant Indian start-ups out there? If any young teams have such plans I’d like to see if I can assist with seed capital,”

His tweet has come following the Cambridge Analytica (CA) scandal that created ripples against Facebook last week. Raising the concern Mahindra expressed on Twitter if the time was right to build own social networking platform based in India.

After receiving overwhelming reply on twitter, Anand Mahindra later replied, “Thank you all for the flood of responses, suggestions & proposals. Please copy your tweets to my colleague @j_bindra who will work with me on this exploration. If nothing else, it should be fun…”

Ravi Shankar Prasad, IT Minister, has also asked Facebook to clear the air about data leak, and has threatened to summon Zuckerburg to India under the Indian IT act. He said, “ Let me make it very, very clear, we fully support freedom of press, speech and expression; we fully support free exchange of ideas on social media. But any attempt, covert or overt, by social media, including Facebook, of trying to influence India’s electoral process through undesirable means will neither be appreciated nor be tolerate. If need be, stringent action will be taken,”

Mark Zuckerberg has been charged of compromising the privacy of 50 million users by sharing their details with Cambridge Analytica, a UK-based political research firm. It has been alleged that it used that data to manipulate the US elections.

The Congressional committee has summoned Mark Zuckerberg of Facebook, Sunder Pichai of Google, and Jack Dorsey of Twitter for a hearing on data privacy.  A media statement reads, “It will also examine how such data may be misused or improperly transferred and what steps companies like Facebook can take to better protect personal information of users and ensure more transparency in the process,”

In India both BJP and Congress have accused each other of links with CA to manipulate the election result.