India's D2C Economy Enters 3.0 Phase, GMV Set To Hit $310 Bn By 2031

Inc42 report flags shift to retention, efficiency and quick-commerce readiness as defining traits of D2C 3.0. D2C GMV projected to grow from $65 Bn to $310 Bn by 2031 at 37% CAGR, contributing 85-86% of new ecommerce GMV. Sector has attracted $10 Bn across 1,400+ rounds, with F&B alone drawing $3 Bn.

— Filed Thu, 14 May, 2026, 21:20 IST · Source Inc42 · Buzz · Updated

Inc42 report says India's D2C economy has entered a 3.0 phase focused on retention, efficiency and quick-commerce readiness. D2C GMV projected to scale from $65 Bn to $310 Bn by 2031, contributing 85% of new ecommerce GMV.