Tim Cook Hails India’s App Store as an “Economic Miracle” for Developers with ₹44,447 Crore Sales in 2024

Apple CEO Tim Cook has described the App Store economy in India as an "economic miracle" after a new report revealed Indian developers earned ₹44,447 crore ($5.31 billion) in billings and sales in 2024. More than 94% of that revenue went directly to developers and businesses with Apple not taking any commission on most transactions.

 

The report, conducted by Professor Viswanath Pingali of IIM Ahmedabad, highlights that India-based developers across the globe have earned three times more in the past five years, a testament to the thriving app economy of the nation. In 2024, the developers earned ₹38,906 crore from physical goods and services, ₹3,014 crore from in-app advertising, and ₹2,527 crore from digital goods. Nearly 80% of the revenue came from non-Indian users, a testament to the global reach of Indian apps.

 

Tim Cook underscored Apple's commitment to investing in developers of all sizes and forms to drive innovation and improve lives everywhere.

 

Sources: Apple Newsroom, IIM Ahmedabad, Economic Times