Amazon's rapid‑delivery expansion in India erases $15 bn from Blinkit and Swiggy

Amazon is scaling its "Amazon Now" rapid‑delivery service in India, aiming to operate in more than 300 cities. The unit, which has been doubling order volume each quarter, has prompted investors to reprice the country’s quick‑commerce leaders. Shares of Eternal, the parent of Blinkit, fell about 28%, while Swiggy dropped roughly 47%, together wiping more than $15 bn off their market capitalisation.

The Indian quick‑commerce market, previously dominated by Blinkit, Zepto and Swiggy Instamart, now faces heightened cost pressures as Amazon’s deep pockets raise the bar for discounts, delivery expenses and dark‑store roll‑outs. Even without overtaking the incumbents, Amazon’s presence forces the existing players to spend more to defend market share, lengthening the path to profitability.

Simultaneously, Amazon has launched Amazon Supply Chain Services, offering warehousing and fulfilment to external clients, while rival Flipkart’s Ekart secures major logistics contracts. These moves signal a broader push by India’s e‑commerce giants into B2B logistics, reshaping the sector’s competitive dynamics.