Eternal, Nykaa, Delhivery, IndiaMART: 4 retail-tech stocks to watch as India retail nears Rs 215 trillion
A BCG-RAI report projects India's retail market at Rs 215 trillion by 2035, up from Rs 90-95 trillion in 2025. Eternal (Zomato) led the pack with Q3 FY26 revenue of Rs 16,315 crore, up 201.9% YoY, as quick commerce arm Blinkit approached breakeven with 200+ net new stores added.
BCG-RAI report projects India's retail market at Rs 215 trillion by 2035. Article audits four retail-tech enablers—Eternal/Zomato, Nykaa, Delhivery, IndiaMART. Eternal posted Q3 FY26 revenue of Rs 16,315 crore with quick commerce reaching breakeven.
Why this matters
Eternal leads a four-stock retail-tech watchlist as India retail scales toward Rs 215 trillion, with Blinkit's near-breakeven quick commerce driving its 201.9% YoY revenue surge.
Retail-company signals accelerating, up 576800% QoQ.