Google India revenue FY 2015-2023
In the fiscal year 2023, Google India's revenue amounted to nearly 93 billion Indian rupees. Although a slight decline from the previous year, the revenue continued to reflect an immense recovery from the pandemic years. Google India's derives its revenue from three segments - ad space resale, enterprise product sales, and providing IT services.
What made the revenue slip to such a low?
To understand this, it is important to note that Google’s advertising revenue is the biggest contributor to its overall revenue. And while Google is the undisputed leader in India’s mobile search engine market, its biggest cash cow- Google AdWords, is registered under the Google Asia Pacific division. As such, the profits from AdWords cannot be filed as part of the Indian division without being taxed. This is mainly owing to the newly imposed accounting standards in India, aimed at providing more transparency in the way technology companies report their financial results.
Why India Inc. matters
This certainly comes as a blow to the company since India is one of the fastest growing digital ad markets, expected to be worth almost 560 billion rupees by fiscal year 2024. But the tech giant is poised to expand its niche from advertising to other future-driven products including digital payments, cloud computing and more, for which India serves as a fertile testing ground.
