Quick-Commerce Orders in India Soar to ₹64,000 Crore in FY25, Set to Triple by FY28

Mumbai, July 10 – India’s quick-commerce market is seeing tremendous growth, with gross order value (GOV) on platforms such as Blinkit and Instamart increasing to ₹64,000 crore in FY25, up from ₹30,000 crore in FY24, according to a report released by CareEdge Advisory, a subsidiary of CareEdge Ratings.

The report indicates that GOV is expected to increase to over ₹2 lakh crore by FY28.

To a significant extent, increasing digital adoption and growing consumer spending will maintain this progressive growth. As of early 2025, the country reported over 1.12 billion mobile connections and 806 million internet users, with a year-over-year increase of 6.5%. It is expected to surpass 900 million by the end of the year.

Smartphones are becoming increasingly prevalent in Indian households, including rural areas, as data becomes cheaper due to various factors, as well as government-backed initiatives.

Platform Revenues and Take Rates Rise Sharply

Quick-commerce platforms collected an estimated ₹10,500 crore in platform fees in FY25, a significant jump from just ₹450 crore in FY22. These revenues are anticipated to grow to ₹34,500 crore by FY28, driven by increased take rates and expanded service offerings.

The ‘take rate’, or the share of transaction value retained by platforms, has climbed from 7–9% in FY22 to as high as 18% in FY25. The report attributes this surge to higher platform fees and improved revenue realisation.

Sector Shifts Focus to Profitability

With hypergrowth accomplished across many of the most significant urban markets, Q Commerce platforms are now examining profitability and operational efficiency. The report outlines several strategic levers that are being deployed:

• Advertising and subscriptions
• Private label products
• Tech-enabled inventory optimisation
• Penetration of tier-2 and tier-3 cities

Tanvi Shah, Head of CareEdge Advisory, noted that “the focus is shifting from rapid expansion to profitability,” underscoring the role of innovation and regional expansion in defining the next phase of growth.

Enablers: Dark Stores and Rising Affluence

A key operational backbone of Q-commerce is the dark store model. The number of dark stores or micro-warehouses surged over 70% to 3,072 in FY25, while average revenue per store grew by 25%, according to the report.

Moreover, macroeconomic enablers are also fuelling the Q-commerce boom:

• India had over 270 million online shoppers in 2024, making it the second-largest e-retail user base globally.
• The e-commerce market experienced a 23.8% growth in 2024.
• The country boasts over 1.12 billion mobile connections, with smartphone usage on the rise.
• Higher disposable incomes and increasing spending capacity are further boosting demand.

Untapped Potential and Changing Preferences

Only 1% of India’s grocery demand currently comes via quick-commerce, which leaves a lot of potential on the table, especially considering the report notes a distinct consumer shift toward convenience and speed and delivery to consumers in the report suggests the readers expect to see even more growth in the next couple of years.

With a growing presence, increasing revenues, and a significant push towards profitability, India’s Q-commerce market is poised to transform the face of retail convenience in the digital era.

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