Apple's refusal to comply with the Indian government's order to remove betting apps from the App Store may lead to a conflict with the authorities. This could result in negative consequences for Apple's business in India, such as fines, restrictions, or a damaged reputation, which may negatively impact its stock price in the short term.

As Apple is a major player in the Indian market, its potential conflict with the Indian government over the removal of betting apps from the App Store may have a minor impact on the overall market sentiment. This could lead to a slight negative effect on the INDA ETF, which tracks the Indian market. However, the impact is expected to be minor as Apple is just one of many companies in the ETF.