As India’s digital retail story expands beyond metros, The Wave Andaman Classifieds becomes the first-ever digital listing-cum-ecommerce platform to emerge from the Andaman and Nicobar Islands.
New Delhi, June 4: Quick commerce in India is no longer just a metro story. A new forecast by Morgan Stanley has pegged the sector’s total addressable market (TAM) at a massive $57 billion by 2030, up from its earlier estimate of $42 billion, on the back of surging demand in Tier II and III cities.
The global investment firm has also raised its gross order value (GOV) projections for the segment by 9–11% between FY26 and FY28, citing rapid adoption, improved unit economics, and a stabilising competitive landscape. Players like Blinkit, Instamart, Zepto, and Flipkart Minutes are deepening their reach beyond major cities, tapping into a fast-digitising consumer base.
A key highlight of the report is the outlook for Eternal (formerly Zomato), whose quick commerce unit is described as “primed for growth.” Morgan Stanley expects its profitability trajectory to mirror that of its food delivery arm over the medium term. With dominant positions in both verticals, Eternal is “well-placed to consolidate leadership in a growing profit pool,” the report said.
The boom in quick commerce comes amid a broader resurgence in venture capital appetite. According to KPMG’s Venture Pulse report, global VC funding rose to $368.3 billion across 35,684 deals in 2024, up from $349.4 billion in 2023, even as the total number of deals fell. India’s fast-delivery startups remain a magnet for funding as investors look to ride the momentum of hyperlocal digital consumption.
What’s driving this shift is not just speed, but a structural change in how Indians shop. Quick commerce and e-commerce are now growing two to three times faster in value than modern or traditional retail channels, enabling new entrants to scale without relying on legacy supply chains.
The trend is visible even in remote regions like the Andaman and Nicobar Islands. The Wave Andaman Classifieds has become the first-ever digital listing-cum-ecommerce platform to emerge from the islands, offering residents and businesses a space to buy, sell, and discover products and services online with island-wide visibility.
A Bain & Company report in April found that 45% of India’s internet users now transact digitally, up sharply in the post-pandemic years. That digital fluency is fuelling smaller towns’ appetite for instant grocery and essential deliveries, a category that didn’t even exist a few years ago.
Even the Reserve Bank of India has acknowledged the growing role of q-commerce. “Private final consumption is the brightening spot in the economy, driven by e-commerce and q-commerce, among which it is important to foster competition rather than being restrictive,” it noted in a recent update.
The quick commerce race is far from over. But for now, the country’s small towns—and its remotest islands—are leading the charge.
