Apple App Store Fuels ₹44,447 Cr Economic Growth in India in 2024, Tim Cook Calls It a ‘Miracle’ for Developers
Apple’s App Store has emerged as a powerful economic engine in India, contributing ₹44,447 crore (approx. $5.31 billion) in developer sales and billings during 2024, according to a new study led by IIM Ahmedabad professor Viswanath Pingali. Impressively, around 94% of this revenue went directly to developers and businesses, bypassing Apple’s commission.
Apple CEO Tim Cook praised the explosive growth of India’s app economy, describing it as an “economic miracle” and reaffirming Apple’s commitment to empowering developers of all sizes.
“The App Store has been an economic miracle for developers in India and all around the world. We’re thrilled to support their work,” said Cook.
The study reveals that Indian developers earned:
- ₹38,906 crore from physical goods and services
- ₹3,014 crore via in-app advertising
- ₹2,527 crore from digital goods and services
This surge in earnings is driven largely by global adoption. Nearly 80% of total revenue in 2024 came from users outside India, as Indian-built apps garnered over 755 million downloads globally—a figure that has doubled in the last five years. Many of these apps made it to the top 100 lists in over 70 international markets.
Meanwhile, domestic app usage is also on the rise. Downloads in India have tripled since 2019, while revenue from Indian users has increased more than fivefold.
The report highlights the standout performance of small developers, who saw a 74% earnings increase between 2021 and 2024, bolstered by Apple’s App Store Small Business Program, which offers lower commission fees.
Apple’s efforts to maintain a secure and trustworthy ecosystem were also noted. From 2020 to 2023, Apple blocked over $7 billion in fraudulent transactions, including $1.8 billion in 2023 alone. More than 1.7 million app submissions were rejected during this time for violating privacy, security, or quality standards.
These insights come as Apple faces regulatory scrutiny in various parts of the world. Most notably, the European Union fined Apple €500 million (~$540 million) over alleged violations of the Digital Markets Act, accusing the company of preventing developers from guiding users to external payment platforms.
Despite regulatory challenges, the data showcases Apple’s expanding role in India’s digital economy, empowering developers, driving innovation, and helping Indian apps reach a global stage.
