Apple App Store drives Rs. 44,447 crore (US$ 5.23 billion) in billings and sales in India in 2024

The Apple App Store ecosystem in India generated Rs. 44,447 crore (US$ 5.23 billion) in billings and sales in 2024, according to a report commissioned by Apple and conducted by Professor Mr. Viswanath Pingali from the Indian Institute of Management (IIM), Ahmedabad. The study revealed that over 94% of the sales and billings facilitated by the App Store in India went directly to developers, with Apple not taking any commission. It also highlighted that India-based developers' global earnings have tripled over the past five years, further underscoring the expanding influence of India's app economy.

Apple's Chief Executive Officer, Mr. Tim Cook, emphasised the economic success of the App Store, calling it an "economic miracle" for developers worldwide. The report showed that in 2024, developers in India earned Rs. 38,906 crore (US$ 4.58 billion) from the sale of physical goods and services, Rs. 3,014 crore (US$ 354.54 million) from in-app advertising, and Rs. 2,527 crore (US$ 297.25 million) from digital goods and services. A significant 80% of the earnings by India-based developers came from users outside the country, with 87% of developers operating across multiple storefronts. Additionally, global users downloaded apps from Indian developers over 755 million times, double the number from five years ago, with Indian apps appearing in the top 100 most downloaded apps in 70 storefronts outside India.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.