Indus Appstore: India's Homegrown Challenger to Google's Dominance

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The Quote󠀢 💭

The Tweet 🐦

To commemorate Messi’s 644 goals for Barcelona, Budweiser sent a customized beer bottle to each of the 160 keepers he scored against. Here is a thread of all the goalies who received these bottles - a trip down memory lane for Messi fans.

The Infographic 💹

Streaming giant Netflix has different pricing in each geography. This is an interesting graphic showing countries with the highest and the lowest pricing. The most expensive country is almost 7x of the cheapest one. 🤯

The Short Read 📝

The Security I Like Best - by Warren Buffett

Written by Warren Buffett in 1951, this description of one of his favourite insurance holdings - GEICO - marks an important moment. This was the first time Buffett broke free from the learnings of his teacher Benjamin Graham and decided to pay up for a quality business with durable moats.

Benjamin Graham’s investing approach involved finding stocks trading at less than liquidation value and pushing the management to either make changes or waiting for the company to be dissolved. Initially, Buffett followed this investment approach, called cigar-butt investing, but quickly got tired. This article signals a shift in his thinking - instead of searching for companies selling for pennies on the dollar, he decided to find companies with a long runway for growth and sustainable competitive advantages.

The Long Read 📜

The Art and Science of Spending Money - by Morgan Housel

This week we feature another gem from Morgan Housel talking about his favourite topic - the psychology behind spending money. Spending decisions usually reveal deep insights about one’s values, character and background. One’s upbringing and past experiences form the basis of how someone spends money.

Things like growing up poor can lead to ‘revenge spending’ to later prove that you have made it. The joy of spending also fades as you make more money since there is less perceived struggle. Social influences like peers, coworkers and relatives play an equally important role. The main point is that finding fulfilling ways to spend requires self-awareness and experimentation since everyone’s drivers are different.

Publisher’s Parmesan 🧀

Indus Appstore: India's Homegrown Challenger to Google's Dominance

In recent times, the clash between tech giants and indigenous app developers has intensified, particularly in the Indian market. With Google's delisting of numerous homegrown apps from its Play Store, the need for a local alternative became more apparent than ever.

In the midst of this upheaval, Indus Appstore emerged as a promising contender, aiming to reshape India's app economy. Let's delve into why Indus is positioned as a formidable challenger to Google and how its emergence marks a significant shift in the landscape of app distribution in India.

Google's actions in delisting a multitude of Indian apps stirred controversy and prompted accusations of monopolistic practices. Despite temporary reinstatements, the underlying issues remain unresolved, with developers facing uncertainties regarding their apps' presence and monetization strategies on the Play Store.

Legal avenues, particularly the Competition Commission of India (CCI), have been cited as the potential route for resolving these disputes. However, amid this chaos, Indus Appstore emerged as a beacon of hope for Indian developers seeking an alternative platform.

Indus Appstore: A Beacon of Hope

Indus Appstore, launched by PhonePe, swiftly gained traction as a viable alternative to Google's Play Store. With a focus on fostering India's local app economy, Indus garnered over 300,000 downloads within a mere ten days of its launch, showcasing a significant demand for indigenous solutions. Notably, eight of the top ten trending apps on Indus were those delisted by Google, highlighting the platform's appeal to disenfranchised developers.

Distinguishing Features of Indus Appstore

What sets Indus apart from its competitors is its unique offerings tailored to cater to the needs of Indian developers and users alike. These include:

1. Waived listing fees until April 2025, providing a cost-effective avenue for developers to showcase their apps.

2. Freedom to choose third-party payment gateways for in-app purchases, offering greater flexibility and control.

3. Zero commissions on in-app transactions, in stark contrast to Google's revenue-sharing model.

4. Advanced features such as cohort-based app rollouts and support for 12 Indic languages, enhancing accessibility and user experience.

5. Mobile-number-based logins, streamlining the authentication process for users.

6. Inclusion of fantasy sports and real-money gaming apps, tapping into lucrative market segments overlooked by mainstream app stores.

Indus's Vision: Empowering Indian Developers

Indus's mission extends beyond providing a mere alternative to Google; it aims to catalyze a paradigm shift in India's app distribution landscape. By onboarding and nurturing homegrown talent, Indus seeks to create a conducive environment for innovation and entrepreneurship.

Moreover, strategic partnerships with smartphone manufacturers pave the way for seamless integration of the app store into new devices, expanding its reach and user base.

Learning from Asian Precedents

Drawing inspiration from successful third-party app ecosystems in East Asia, particularly China, Indus seeks to replicate their achievements within the Indian context. With China's Huawei App Store boasting over 400 million monthly active users, Indus aims to tap into India's vast potential market, fueled by a burgeoning smartphone user base.

It’s not just China, though. All other developed app economies in East Asia have thriving alternate app ecosystems that run independently of Google and Apple. South Korea, for instance, is dominated by mobile carrier-branded app stores, including T Store (by SKT), Ozstore (by LG U+), AppZil (by UbiNuri), and OllehMarket (by KT Corporation), among others.

In Japan, too, telecom service providers operate app stores and nudge users to download apps via their platforms. Docomo is a leading Android-based app store that comes pre-installed on every NTT Docomo device in Japan—a similar OEM partnership model that Indus is looking to adopt in India. App developers typically see a 200% growth in downloads when they distribute their apps through a bunch of third-party stores, according to industry estimates.

The Road Ahead: Challenges and Opportunities

Despite its promising start, Indus Appstore faces formidable challenges in its quest to challenge Google's dominance. The need for widespread adoption, regulatory compliance, and sustained innovation poses significant hurdles. However, with India projected to surpass one billion smartphone users by 2026, the potential for growth and impact is immense.

In conclusion, Indus Appstore emerges as a transformative force in India's app distribution landscape, offering a ray of hope amidst the turmoil caused by Google's actions. By championing indigenous talent and fostering a fairer marketplace, Indus paves the way for a more inclusive and vibrant app ecosystem. As it embarks on its journey to redefine the rules of engagement in India's digital economy, Indus epitomizes the spirit of innovation and resilience that defines the nation's startup ecosystem.

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Peeyush and Mohit

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