Eternal, Nykaa lead retail-tech pack as India's market races toward Rs 215 trillion by 2035
BCG-RAI report projects India's retail market at Rs 210-215 trillion by 2035, up from Rs 90-95 trillion in 2025. Q3 FY26 results show Eternal revenue up 201.9% YoY to Rs 16,315 crore and Nykaa net profit up 156% to Rs 68 crore, alongside 276 Nykaa stores across 94 cities.
BCG-RAI report projects India's retail market at Rs 215 trillion by 2035. Piece profiles four retail-tech enablers—Eternal, Nykaa, Delhivery, IndiaMART—with Q3 FY26 results showing strong revenue and profit growth, quick commerce breakeven, and store expansion.
Why this matters
Eternal posts triple-digit revenue growth in Q3 FY26 as retail-tech players position for a projected doubling of India's retail market to Rs 215 trillion by 2035.
Retail-company signals accelerating at +788600% QoQ.