India’s Q-Commerce market is projected to grow to US $ 60 billion by FY31, up from US $11.3 billion in FY26 and US $1.6 billion in FY23, registering a 23.3% CAGR during FY26–31, according to a report by Anand Rathi Research.
The report said India’s overall retail market, currently valued at US $1.07 trillion, is expected to expand at a CAGR of 8–10% during FY26–31, reaching US $1.5–1.6 trillion.
Quick commerce is expected to contribute 9–11% of the total incremental growth in the country’s retail market over the period, reflecting its emergence as a structural driver of urban retail.
The report noted that quick commerce has evolved beyond a convenience-led service into a mainstream retail channel, supported by a rapidly expanding customer base and higher order volumes.
Growth is also expected to come from categories beyond grocery. The share of non-grocery products in quick commerce is projected to increase to 39–44% by FY31, compared with 29% in FY26, creating opportunities for higher consumer spending and improved profitability due to better unit economics according to the report.
Monthly transacting users (MTUs) are forecast to rise to 105–115 million by FY31, from 36–38 million in FY26 and 5.6 million in FY23, driven by increasing platform adoption, enhanced consumer experience and the growing integration of quick commerce into daily shopping habits across India.
Bharat Tex Special Report 2026 
