Eternal, Nykaa lead retail-tech watchlist as India's market races to Rs 215 trillion by 2035
A BCG-RAI report pegs India's retail market at Rs 90-95 trillion in 2025, rising to Rs 210-215 trillion by 2035. Four enablers—Eternal/Zomato, Nykaa, Delhivery and IndiaMART—are flagged to watch. Eternal's Q3 FY26 revenue jumped 201.9% YoY to Rs 16,315 crore, with quick commerce hitting breakeven.
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. Eternal Q3 FY26 revenue rose to Rs 16,315 crore; quick commerce reached breakeven.
Why this matters
Eternal anchors a BCG-RAI watchlist of retail-tech enablers, with Q3 FY26 revenue up 201.9% YoY to Rs 16,315 crore and quick commerce hitting breakeven, signaling a shift toward profitable scale.
Retail-company signals accelerating at +614200% QoQ.