Apple App Store powers Rs 44,447 Cr boost to India economy in 2024, Tim Cook calls it a miracle for developers

India Today

28-04-2025

Apple's App Store facilitated a cumulative Rs 44,447 crores ($5.31 billion approximately) in developer billings and sales in 2024, according to a new report. About 94 percent of this commerce is said to have gone directly to developers and businesses, without any commission paid to Apple.The findings - published today - are part of an exhaustive research paper by IIM Ahmedabad professor Viswanath Pingali, and highlight how the App Store is helping developers in India not only grow but also reach a global audience, fostering entrepreneurship and success. Apple CEO Tim Cook praised the country's incredibly vibrant app economy while underscoring the impact the App Store has had on bolstering the businesses of not just big-ticket but smaller developers, likening it to a miracle.advertisement'The App Store has been an economic miracle for developers in India and all around the world, 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.'
In 2024, Indian developers earned Rs 38,906 crores (about $4.65 billion) from selling physical goods and services, Rs 3,014 crores (about $352.9 million) from in-app advertising, and Rs 2,527 crores (about $302 million) from digital goods and services through the App Store, per the study.Interestingly, the global appeal of India's app developers is seemingly stronger than ever. Close to 80 percent of their earnings in 2024 came from users outside India. Apps built by Indian developers were downloaded over 755 million times worldwide, that is twice as many downloads compared to five years ago. Many of these apps even made it to the top 100 charts in 70 storefronts outside India. Downloads from Indian users, meanwhile, have tripled over the past five years, and earnings from Indian consumers have grown more than fivefold. Indian developers have also created some of the most popular apps catering to the quick commerce and gig economy sectors, even as sectors like food delivery, travel, gaming, and entertainment are fuelling app usage.Small developers, in particular, are seeing big wins, recording a 74 percent jump in earnings between 2021 and 2024. The growth is attributed to initiatives like Apple's App Store Small Business Program, which offers reduced commission rates. The report gives a sense of the App Store's focus on user and developer security as well. From 2020 to 2023, Apple prevented over $7 billion worth of potentially fraudulent transactions, including $1.8 billion in 2023 alone. Over 1.7 million app submissions were rejected during this period for failing to meet privacy, security, and quality standards. The findings come at a time when Apple is grappling with significant scrutiny - and even regulatory actions - over some of its existing App Store policies, particularly within the European Union (EU). Recently, the EU imposed a 500 million fine on the Cupertino-based tech company for allegedly restricting developers from directing users to alternative payment options outside the App Store. This limits competition and consumer choice, violating the Digital Markets Act (DMA), the EU has contended.