India ecommerce to hit $450 Bn by 2031, capturing 22% of retail GMV as D2C and quick commerce drive growth

Inc42 Datalabs projects India's $165 Bn ecommerce market to triple to $450 Bn by 2031 at 22% CAGR, doubling its retail GMV share from 12% to 22%. D2C brands like Mamaearth, Lenskart and boAt will drive 86% of incremental value, while quick commerce consolidates around Blinkit, Instamart and Zepto.

Inc42 Datalabs projects India's $165 Bn ecommerce market to triple to $450 Bn by 2031 at 22% CAGR, doubling its retail GMV share from 12% to 22%. D2C brands lik

Inc42 · Buzz · 5/15/2026, 3:35:13 AM · Ask about this →

Indian Ecommerce Sector + Ajio + Amazon India + Flipkart + JioMart + Mamaearth + Reliance Retail +