India's retail market projected to hit Rs 215 trillion by 2035; Eternal, Nykaa's Q3 FY26 results resurface retail-tech buzz
Resurfacing a BCG-RAI report from late December 2025, which projected India's retail market to more than double to Rs 210-215 trillion by 2035 from Rs 90-95 trillion in 2025. The report also recapped Eternal and Nykaa's Q3 FY26 results—Eternal revenue up 201.9% YoY to Rs 16,315 cr, Nykaa profit up 156% to Rs 68 cr with 276 stores across 94 cities.
BCG-RAI report projects India's retail market to hit Rs 215 trillion by 2035, spotlighting four retail-tech enablers—Eternal, Nykaa, Delhivery, IndiaMART. Eternal and Nykaa post strong Q3 FY26 growth with quick commerce breakeven and store expansions.
Why this matters
Eternal's 201.9% YoY revenue surge lands alongside a BCG-RAI forecast for a doubling of India's retail market, signaling accelerating retail-tech momentum heading into FY26.
Retail-company signals accelerating, up 877500% QoQ.