Apple on Monday released a new study conducted by Professor Viswanath Pingali from the Indian Institute of Management, Ahmedabad, on the economic impact of its App Store ecosystem in India. According to Apple, the App Store in India facilitated Rs 44,447 crores ($5.31 billion) in developer billings and sales. Notably, over 94 per cent of that revenue went directly to developers and businesses of all sizes, without any commission paid to Apple. “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. This study underlines the power of India’s incredibly vibrant app economy. And we’re committed to continuing to invest in the success of developers of all sizes as they build apps that make an important impact and enrich people’s lives,” said Tim Cook, CEO of Apple.