Eternal, Nykaa lead retail-tech surge as India's market eyes Rs 215 trillion by 2035
A BCG-RAI report 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, with 200+ net new stores. Nykaa's revenue rose 27% to Rs 2,873 crore and net profit jumped 156% to Rs 68 crore, backed by a 45.2% gross margin and 276 stores across 94 cities.
BCG-RAI report projects India's retail market at Rs 215 trillion by 2035. Four retail-tech enablers highlighted: Eternal (Zomato) and Nykaa post strong Q3 FY26 growth with quick commerce breakeven and store expansion; Delhivery and IndiaMART flagged.
Why this matters
Eternal (Zomato) posts a triple-digit revenue jump and rapid store expansion alongside Nykaa's margin-led profit surge, positioning both as tech enablers of India's projected Rs 215 trillion retail market.
retail-company signals accelerating, up 651500% QoQ.