New Delhi— Fueled by a surge in online orders from smaller cities and towns, India’s quick commerce (QC) market is projected to reach a total addressable market of $57 billion by 2030, according to a new report by Morgan Stanley.
The global brokerage has revised its earlier forecast of $42 billion upward, citing growing nationwide adoption of quick commerce. It has also raised its gross order value (GOV) estimates for India’s QC sector by 9–11% for FY26–28.
Key growth drivers include sustained GOV expansion, improving food delivery margins, and a stable competitive landscape. Major players such as Blinkit, Instamart, Zepto, and Flipkart Minutes continue to expand aggressively to capture this momentum.
Morgan Stanley said Eternal (formerly Zomato) is “primed for growth” in the QC space, with its long-term profitability expected to mirror its food delivery business. The report noted Eternal’s leadership in both sectors gives it a strategic edge in capturing a growing profit pool.
Quick commerce remains a top investment area in India, with global VC funding in the sector rising. According to KPMG, global venture capital investment climbed to $368.3 billion in 2024, with quick commerce among the leading segments in India.
E-commerce and QC have grown 2–3 times faster in value than traditional and modern trade channels, reducing the need for expansive legacy distribution networks. At the same time, digital payments are gaining traction, with 45% of internet users adopting online payment methods, according to Bain & Company.
The Reserve Bank of India also noted that private consumption is a key economic driver, propelled by e-commerce and quick commerce. The central bank emphasized the need to foster healthy competition rather than impose restrictive measures on the sector. (Source: IANS)
