India retail to hit Rs 215 trillion by 2035; Eternal, Nykaa, Delhivery, IndiaMART flagged as enablers
A BCG-RAI report projects India's retail market roughly doubling from Rs 90-95 trillion in 2025 to Rs 210-215 trillion by 2035. Four retail-tech plays are highlighted, led by Eternal (Zomato), whose Q3 FY26 revenue rose 201.9% YoY to Rs 16,315 crore as quick commerce approached breakeven with contribution margin up 90bps.
BCG-RAI report projects India's retail market hitting Rs 215 trillion by 2035, driven by supply chains and platforms. Analysis highlights four retail-tech enablers—Eternal (Zomato), Nykaa, Delhivery, IndiaMART—with Q3 FY26 financials showing Eternal's quick commerce hitting breakeven.