Over the past four fiscal years, Apple India, Google India, and Facebook India have outperformed their worldwide equivalents.

According to regulatory records obtained by businessline through Toeflr, Apple Inc's net income growth rate fell from 64% in FY21 to 3.3% in FY24. Meanwhile, Apple India's net income increased by double digits year on year, with earnings up 32%, 3%, 76%, and 23% in FY21, FY22, FY23, and FY24, respectively. In October, the company announced intentions to launch four new retail locations in Mumbai, Pune, Bengaluru, and Delhi/NCR. Apple's senior vice president of retail, Deirdre O'Brien, expressed enthusiasm for expanding into new markets, echoing Apple CEO Tim Cook's remark in May that India is a "incredibly exciting market."

Alphabet's net income growth fell from 89% in FY22 to 23% in FY24, whereas Google India's growth climbed from 14% in FY21 to 25% in FY24. Google India's profit climbed by 37.8%, 53%, 8%, and 6% from FY21 to FY24. Google is making huge investments in India, having unveiled a $10 billion funding plan several years ago. During Google I/O Connect in July, the firm unveiled a number of tools, programs, and collaborations for Indian developers and entrepreneurs. It also mentioned collaborating with MeitY Startup Hub on AI. It also announced ambitions to engage with the Open Network for Digital Commerce (ONDC).

Meta's global net income went from 58 percent in FY21 to 68.5 percent in FY24, whereas Facebook India's total income increased from 16% in FY21 to 8.8 percent in FY24. Following a 5% fall in profits in FY21, the company's profits increased by 131% in FY22, 18% in FY23, and 43% in FY24. Sandhya Devanathan, Vice President and Head of Meta India, stated during the 'Build with AI Summit' in October that the company believes India has the ability to lead the world in AI. However, the company has had regulatory compliance concerns, the most recent being an injunction from the Competition Commission of India prohibiting the company from exploiting user data for targeted advertising.

Regarding the future of these companies in India, Sanchit Vir Gogia, Chief Analyst & CEO at Greyhound Research, stated, "The markets are performing well; government policies are very beneficial for pent-up demand, and consumer mood is extremely positive. Everything from here on out is positive. In the next decade or two, we will see significant growth from many areas of the country, and these segments will want gear, software, and much more. Overall, there will be a strong demand from here for India over the next decade or so."

Similarly, Naresh S, research analyst at Gartner, stated, "The global economy is not doing well, so companies will invest in markets like India to grow. Because of their geopolitical rivalry, the United States and China engage in economic warfare. That has a beneficial impact on us. There have been numerous IT investments in Asia. Things that would have been invested in China are being redirected to India and other countries. If we keep the odds in our favour, India's growth will be sustainable."

When asked about India's seemingly astounding growth rates, both analysts ascribed the pattern to increased spending and policy compliance. "From a permanency perspective, no technology company should fail to do well in theory in India, as long as it complies with government policy and aligns with consumer sentiment," says Gogia.