Apple’s App Economy is also booming in India
It’s not just iPhone manufacturing and hardware sales that are in Apple’s favor in India.
The company is also benefitting from a huge increase in the value of its app ecosystem, generating a huge $5.3 billion in 2024, according to a new report commissioned by Apple.
App downloads in India have trebled
Effectively, that means India is now worth a huge chunk of cash to Apple, including $8 billion in hardware sales and $14 billion worth of iPhone exports, all spiced up with the $5 billion from apps.
The report, based on estimates from Indian Institute of Management Ahmedabad professor Viswanath Pingali, claims big growth in the App economy in India.
Over the last five years, the global earnings of India-based developers have tripled, underscoring the global reach the App Store provides. Seventy-nine percent of earnings come from users outside India, the report says.
‘An economic miracle’
“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,” said Tim Cook, Apple’s CEO.
“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 as they build apps that make an important impact and enrich people’s lives.”
The study takes a closer look at the key drivers shaping the App Store ecosystem in India, including increased app usage in sectors like food delivery, travel, gaming, entertainment, and education.
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.
Better for business
Apple, which faces scrutiny in every market, including India, also pointed out why the existing App Store system makes so much sense for customers and most developers.
“From 2020 through 2023, Apple prevented a combined total of over $7 billion in potentially fraudulent transactions, including more than $1.8 billion in 2023. The App Store also rejected more than 1.7 million app submissions for failing to meet privacy, security, and quality standards,” it said.
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