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Flipkart is considering a pilot launch in Bengaluru around May-June, with a full-scale rollout potentially by late 2026 or early 2027, according to a report.
At 10:25 am, shares of Eternal were down 1.6 per cent at Rs 295.9, while Swiggy was trading nearly 3 per cent lower at Rs 331.75.
Shares of food delivery platforms Eternal (Zomato’s parent) and Swiggy slipped up to 3 per cent on February 12 after a report said IPO-bound Flipkart is evaluating a possible entry into India’s online food delivery market.
Flipkart is considering a pilot launch in Bengaluru around May-June, with a full-scale rollout potentially by late 2026 or early 2027, according to an ET report citing people familiar with the matter. The development triggered concerns about heightened competition in a sector currently dominated by Zomato and Swiggy.
In the early trade, shares of Eternal were down 1.6 per cent at Rs 295.9, while Swiggy was trading nearly 3 per cent lower at Rs 331.75.
Flipkart’s move would place the Walmart-owned e-commerce firm directly against entrenched players in a market estimated at $9 billion in FY25 and projected to expand to $25 billion by FY30, according to Jefferies. For Flipkart, which is preparing for a public listing, food delivery could serve as an additional growth lever beyond core e-commerce.
“Flipkart is evaluating the food delivery market while trying to identify a differentiated positioning in the space,” one of the people told The Economic Times.
Another person said the company is assessing whether to build a standalone food delivery platform or operate through a buyer-side application on the government-backed Open Network for Digital Commerce (ONDC). “Both options remain under active consideration,” the person said, adding that Flipkart has already begun building a team for the initiative.
Flipkart had explored food delivery via ONDC around two years ago, alongside players such as Ola and Paytm, but those plans did not progress beyond preliminary discussions.
The renewed interest comes as India’s food delivery segment shifts from an indulgence-driven category to one increasingly used for everyday consumption. Jefferies has attributed this evolution to better affordability, faster delivery times and improved reliability.
The market has also seen sharp consolidation, with Zomato and Swiggy emerging as the dominant players after multiple smaller rivals exited. Brokerages note that, outside India and China, most global food delivery markets have stabilised around three or four operators, typically with one clear leader.
Both Zomato and Swiggy recently indicated an improvement in demand after several quarters of growth at the lower end of their 18–22 percent medium-term guidance. In the October–December quarter, gross order value rose 21.3 percent year-on-year for Zomato and 20.5 percent for Swiggy. At the same time, new formats such as 10-minute café-style delivery have begun to emerge, even as broader consumption trends remain uneven.
Competition is also intensifying from newer entrants. Urban mobility startup Rapido has scaled up its Ownly food delivery platform across Bengaluru and plans to expand to Pune, Mumbai and Delhi-NCR in the coming months, according to a person familiar with the matter. The platform is positioned as a response to restaurant concerns over high commissions and limited transparency on larger platforms.
Flipkart’s food delivery evaluation coincides with an aggressive push in its quick commerce arm, Minutes. People aware of the plans said Minutes now operates over 800 dark stores and is set to expand its micro-warehouse network further. This infrastructure could offer Flipkart a logistical advantage if it enters food delivery, particularly in dense urban markets where speed and reliability are critical.
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February 12, 2026, 12:15 IST
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