India's retail market to hit Rs 215 trillion by 2035; four retail tech enablers in focus
A BCG-RAI report projects India's retail market doubling to Rs 210-215 trillion by 2035 from Rs 90-95 trillion in 2025, with growth shifting to the tech stack. Eternal (Zomato), Nykaa, Delhivery and IndiaMART emerge as key enablers. Eternal posted Q3 FY26 revenue of Rs 16,315 crore, up 201.9% YoY, with Blinkit reaching quick commerce breakeven.
BCG-RAI report projects India's retail market at Rs 215 trillion by 2035, with growth shifting to the retail tech stack. Highlights four enablers—Eternal/Zomato, Nykaa, Delhivery, IndiaMART—including Eternal's Q3 FY26 results and quick commerce breakeven.
Why this matters
Eternal is positioned as a core retail tech enabler as India's market doubles, with its Q3 FY26 revenue up 201.9% YoY and Blinkit hitting quick commerce breakeven, signaling maturing unit economics.
Retail-company signals accelerating at +889700% QoQ.