India's quick commerce races for scale as profits stay elusive

India's quick-commerce sector is pivoting away from discount-led growth as Blinkit turns operating-profitable and Swiggy narrows losses, while Zepto and BigBasket remain deeply in the red. GMV has doubled annually since 2023 to roughly $10–11 billion, with over 7,000 dark stores across 200-plus cities, but subsidy cuts and rising policy costs test the model.