E-commerce Companies in India: an overview
India's online retail market was valued at about US$125 billion in 2024, and IBEF projects it could reach US$345 billion by 2030, which works out to roughly 18% growth a year. The buyer base keeps widening. The country had about 1.09 billion internet users at the end of March 2026, and an estimated 290 to 300 million people shopped online in 2025. Smaller cities supplied most of the new shoppers.
Quick commerce is the fastest-growing segment. IBEF sizes it at US$7 to 8 billion in FY25 and expects it to reach US$65 to 70 billion by 2030. Blinkit, owned by Eternal, reports more than 2,400 stores across 300-plus cities. Swiggy launched Instamart in 2020, and Zepto, founded in 2021, is still privately held. BigBasket, part of the Tata group, now also calls itself a quick commerce platform for groceries and other essentials.
Several platforms have gone public. Nykaa, Swiggy, Eternal, FirstCry's parent Brainbees, IndiaMART, Lenskart and Meesho all trade on the NSE and BSE. Snapdeal's parent AceVector listed on 5 October 2026 at ₹28.30 on the BSE, below its ₹32 issue price. Flipkart, which owns Myntra, is still unlisted. In B2B trade, IndiaMART (established in 1999) and udaan (2016) connect manufacturers, wholesalers and retailers. The government-backed ONDC network had more than 1.16 lakh retail sellers by December 2025.