New Delhi, March 17 -- India's plan to set up a $1-billion fund to back social media influencers has evoked praise from creators and industry experts, but not without concerns over lack of clarity on eligibility and fears of excessive regulation.

The fund is a "strong statement of intent. Its impact will depend on execution and accessibility", said Shudeep Majumdar, co-founder of Influencer Marketing firm Zefmo. "Clarity on fund allocation and eligibility criteria will be crucial, considering the sheer number of creators today."

Majumdar said the "fund's success will hinge on transparent guidelines, fair access, and accountability in execution. Further details, as and when they come out, will provide a clearer picture of its real impact...