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Akash Dongre, Co-founder and Chief Product Officer of Indus Appstore, has announced his departure from the PhonePe-owned app marketplace, marking the end of a significant chapter in the company's journey to build a homegrown alternative to global app distribution platforms.
Dongre, who was the last remaining co-founder at Indus Appstore, exits nearly four years after PhonePe acquired Indus OS in July 2022. His departure follows the exits of fellow co-founders Rakesh Deshmukh in December 2023 and Sudhir Bangarambandi in May 2025.
Reflecting on his tenure, Akash Dongre said, "The four years have been among the most rewarding of my career, working alongside some of the sharpest product, engineering and business minds I've known, inside one of India's most important consumer technology companies."
While Dongre did not reveal his next professional move, he indicated that he plans to take time to recharge and reflect before embarking on a new venture. "I don't know exactly what comes next. But I know this: I love building. And I have a feeling another chapter isn't far off.
Since its launch in February 2024, Indus Appstore has emerged as India's indigenous app marketplace, offering support for 12 Indian languages in addition to English. Positioned as a made-in-India alternative to dominant global app stores, the platform has focused on improving app discovery and accessibility for Indian consumers.
Under Dongre's leadership, Indus Appstore expanded its reach through strategic partnerships with leading smartphone manufacturers. In March 2025, PhonePe announced a multi-year alliance with Xiaomi India to pre-install Indus Appstore on smartphones sold in the country, replacing Xiaomi's existing GetApps marketplace. The platform has also secured partnerships with Motorola and Alcatel, further strengthening its distribution footprint.
According to Dongre, Indus Appstore currently serves more than 150 million users, underscoring its growing relevance within India's digital ecosystem.
The leadership transition comes as PhonePe continues to strengthen its position across digital services. While the Walmart-owned fintech giant had been preparing for a public listing, it deferred its IPO plans in March 2025, citing market volatility and geopolitical uncertainties.
