Amazon is accelerating its rapid-delivery push in India, and the move is hitting the market value of quick-commerce rivals. Amazon started “ultra-fast” delivery in India last year and says it plans to expand its Amazon Now service to more than 300 cities and towns, up from more than 15 currently. The company also pledges further investment—reported as $13 billion more—to build AI and cloud infrastructure in India.
Multiple outlets report that the intensified competition is driving sharp declines in listed quick-commerce firms. Eternal Ltd., the parent of Blinkit, and Swiggy Ltd. are described as having been among the early leaders in 10-minute grocery delivery. According to one report, Eternal shares are down about 28% from an October all-time high, while Swiggy’s shares have fallen roughly 47% from a September peak, amounting to more than $15 billion in combined market-value erosion. Bloomberg and other coverage also note that Walmart’s Flipkart is expanding in the same space. Business Standard adds that competition from fast-growing players, including Zepto’s IPO plans, is further increasing pressure on established firms.
