App Store an economic miracle for developers in India, says Tim Cook
The App Store ecosystem in India facilitated ₹44,447 crore ($5.31 billion) in developer billings and sales during calendar 2024, reported a study published by Apple.
As per the study, more than 94% of billings and sales facilitated by the App Store in India accrued solely to developers, and businesses of all sizes, without any commission paid to Apple. It also found, the global earnings of India-based developers have tripled, over the last five years.
'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.,' Apple CEO Tim Cook said.
The study underlined the power of India's incredibly vibrant app economy, he further said adding, 'And we're committed to keep investing in the success of developers of all sizes as they build apps that make an important impact and enrich people's lives.'
According to the study, India-based developers have also designed popular apps targeted at the country's growing quick commerce and gig economy industries. These apps provided essential on-demand services, making daily tasks more convenient for millions of users while providing workers with access to flexible job opportunities in the country, it claimed.
The study conducted by Professor Viswanath Pingali from the Indian Institute of Management Ahmedabad, took a closer look at the key drivers shaping the App Store ecosystem in India that comprises food delivery, travel, gaming, and entertainment. In 2024 alone, App Store developers generated ₹38,906 crore ($4.65 billion) in total billings and sales from the sale of physical goods and services, ₹3,014 crore ($352.9 million) from in-app advertising, and ₹2,527 crore ($302 million) from digital goods and services, it said further.
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