Retail-tech enablers ride India's Rs 215 trillion market bet; Eternal, Nykaa post strong Q3 FY26
A BCG-RAI report projects India's retail market will roughly double to Rs 210-215 trillion by 2035 from Rs 90-95 trillion in 2025. Four listed enablers stand out: Eternal (Zomato) with revenue up 201.9% YoY to Rs 16,315 cr, Nykaa revenue up 27% to Rs 2,873 cr with net profit up 156%, plus Delhivery and IndiaMART.
BCG-RAI report projects India's retail market at Rs 215 trillion by 2035. Analysis of four retail-tech enablers: Eternal (Zomato), Nykaa, Delhivery, IndiaMART, with strong Q3 FY26 earnings, store additions, and quick-commerce breakeven.