India's retail market to hit Rs 215 trillion by 2035; Eternal, Nykaa, Delhivery, IndiaMART flagged as enablers
A BCG-RAI report projects India's retail market more than doubling from Rs 90-95 trillion in 2025 to Rs 210-215 trillion by 2035. Four retail-tech players are named as key beneficiaries. Eternal (Zomato) leads with Q3 FY26 revenue up 201.9% YoY to Rs 16,315 crore, net profit up 102.9% to Rs 102 crore, and 200+ net new stores as quick commerce nears breakeven.
BCG-RAI report projects India's retail market reaching Rs 215 trillion by 2035. Audit highlights four retail-tech enablers—Eternal/Zomato, Nykaa, Delhivery, IndiaMART. Eternal's Q3 FY26 revenue rose 201.9% YoY with quick commerce reaching breakeven and 200+ new stores added.
Why this matters
A BCG-RAI report frames Eternal (Zomato) as a lead beneficiary of India's projected retail expansion, backed by 201.9% YoY Q3 FY26 revenue growth and quick commerce nearing breakeven.
Retail-company signals accelerating, up 814300% QoQ.