Apple App Store Drives Rs. 44,447 Crore Boost to Indian Economy in 2024; Tim Cook Calls it a 'Miracle'
According to a newly published report, Apple's App Store powered a remarkable ₹44,447 crore (approximately $5.31 billion) in developer billings and sales in India during 2024. Impressively, about 94 percent of this commerce went directly to developers and businesses, bypassing Apple's commission structure.
The findings, compiled by IIM Ahmedabad professor Viswanath Pingali, showcase how the App Store has become a significant growth engine for Indian developers. It highlights their rising earnings and their success in reaching global audiences and fostering entrepreneurship across the country. Apple CEO Tim Cook praised the Indian app ecosystem, describing its success as miraculous.
'The App Store has been an economic miracle for developers in India and worldwide, and we're thrilled to support their work,' Cook said. 'This study underlines the power of India's incredibly vibrant app economy. And we're committed to keep investing in the success of developers of all sizes.'
The earnings breakdown in 2024 reveals that Indian developers made ₹38,906 crore (roughly $4.65 billion) from selling physical goods and services. According to the study, in-app advertising generated ₹3,014 crore (about $352.9 million), while the sale of digital goods and services brought in ₹2,527 crore (around $302 million).
A particularly noteworthy trend is the increasing global footprint of Indian developers. Nearly 80 percent of their total earnings came from users outside India. Apps developed in India saw over 755 million downloads worldwide in 2024 — twice as many as five years ago — with many even climbing into the top 100 charts across 70 different international storefronts.
Back home, Indian users have tripled their app downloads over the past five years, while consumer spending on apps has surged more than fivefold. Indian developers have been pivotal in creating top apps across quick commerce, gig economy, food delivery, travel, gaming, and entertainment sectors.
Smaller developers are also witnessing tremendous growth. Between 2021 and 2024, their earnings soared by 74 percent, thanks largely to initiatives like Apple's App Store Small Business Program, which reduces commission fees for small developers, giving them more room to grow and succeed.
The report also touches on Apple's efforts to maintain high standards of security and privacy across its App Store. Between 2020 and 2023, Apple reportedly blocked over $7 billion worth of potentially fraudulent transactions, with $1.8 billion being prevented in 2023 alone. During this period, more than 1.7 million app submissions were rejected for not meeting Apple's strict privacy, security, and quality guidelines.
However, these positive developments come at a time when Apple is facing increased regulatory pressure, particularly in the European Union. The EU recently fined Apple €500 million (approximately $540 million) for allegedly restricting developers from directing users to alternative payment methods outside of the App Store. The European Commission contends that this practice hampers competition and violates the Digital Markets Act (DMA), which is designed to ensure fair digital market practices.
Despite these regulatory challenges, the recent findings underscore how pivotal the App Store remains for developers, particularly in emerging markets like India, where opportunities for innovation and growth continue to expand rapidly.
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