Eternal, Nykaa lead retail-tech pack as resurfaced report pegs India's retail market at Rs 215 trillion by 2035
Resurfacing a late-January 2026 BCG-RAI report that projects India's retail market at Rs 215 trillion by 2035, spotlighting four tech enablers. Eternal (Zomato) posted Q3 FY26 revenue of Rs 16,315 crore (up 201.9% YoY) and net profit of Rs 102 crore; Nykaa reported Rs 2,873 crore revenue (up 27%) with profit up 156%, backed by 276 stores across 94 cities.
BCG-RAI report projects India's retail market at Rs 215 trillion by 2035. Analysis of four retail-tech enablers: Eternal (Zomato), Nykaa, Delhivery, IndiaMART, with Q3 FY26 results showing strong revenue and profit growth, quick commerce breakeven, and store expansion.
Why this matters
Eternal (Zomato) posts 201.9% YoY revenue growth to Rs 16,315 crore alongside Nykaa's 27% revenue gain, positioning both as tech enablers of a market projected to hit Rs 215 trillion by 2035.
Retail-company signals are accelerating, up 837900% QoQ.