India’s app market is booming — but global platforms are capturing most of the gains

India's mobile app market hit a record $300 million in in-app purchase revenue in Q1, up 33% year-over-year, with non-gaming apps leading growth at 44% YoY. Annual in-app revenue has doubled from $520M in 2021 to over $1B in 2025, projected to reach $1.25B in 2026. However, global platforms like Google One, Facebook, ChatGPT, and YouTube are capturing most of the spending. India's revenue per download remains low at $0.03 compared to $0.20+ in Southeast Asia and Latin America. Generative AI app downloads surged 69% YoY, while short drama platforms grew over 400%, signaling that India's monetization journey is still in early stages.