Eternal, Nykaa lead retail-tech pack as India's market races toward Rs 215 trillion by 2035
A BCG-RAI report pegs India's retail market at Rs 215 trillion by 2035, up from Rs 90-95 trillion in 2025. Four retail-tech enablers—Eternal (Zomato), Nykaa, Delhivery and IndiaMART—posted strong Q3 FY26 results, led by Eternal's revenue of Rs 16,315 crore (+201.9% YoY) and Nykaa's Rs 2,873 crore (+27%).
BCG-RAI report projects India's retail market at Rs 215 trillion by 2035. Analysis highlights four retail-tech enablers—Eternal (Zomato), Nykaa, Delhivery, IndiaMART—with strong Q3 FY26 earnings, store expansion, and quick-commerce momentum.