Visitors to Bangalore, India’s tech hub, quickly learn why locals measure distances in minutes and not kilometres. The city’s clogged streets turn every outing into a test of patience. Other large cities in the country are just as bad. So it is no surprise that Indians are getting everything from biryanis and books to mangoes and mobile phones delivered straight to their doors—often in under ten minutes. “Quick commerce” is a booming business in India. Zomato, the largest company in the industry, is valued at $26bn; its share price has nearly doubled this year. Swiggy, its closest rival, is expected to go public on November 13th at a valuation of $11bn. Zepto, another competitor founded in 2021, is now worth $5bn.
Source: Business - economist.com
