Summary:

According to Professor Viswanath Pingali of IIM Ahmedabad, the Apple App Store ecosystem in India is expected to generate Rs. 44,447 crore (US$ 5.23 billion) in billings and sales by 2024. The research revealed that more than 94% of revenues went directly to developers, with Apple receiving no commission. It also highlighted that India-based developers' global earnings have quadrupled over the last five years, showcasing the growing importance of India's app sector.

Apple CEO Tim Cook described the App Store's growth as an "economic miracle" for developers. In 2024, Indian developers earned Rs. 38,906 crore (US$ 4.58 billion) from physical goods, Rs. 3,014 crore (US$ 354.54 million) from in-app ads, and Rs. 2,527 crore (US$ 297.25 million) from digital services. Global consumers accounted for 80% of profits, with Indian apps downloaded 755 million times and ranking in the top 100 in 70 storefronts worldwide.

Source: IBEF

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