Financial services veteran Uday Kotak has raised concerns about the growing impact of Quick Commerce (Q-Com) on traditional retailers, predicting that it could become a political issue. Speaking at a CNBC TV18 event, Kotak highlighted the success of Quick Commerce in India, unlike in many other countries.
"Q-Com has a challenge to the local retailer and it is a challenge which will come to the political front," he said. The billionaire banker made the comments just a after the listing of grocery and food delivery major Swiggy. Swiggy IPO made its debut on November 13 at a 17% premium in what has lately been a Bear market.
Quick commerce refers to the delivery of consumer items in 10-30 minutes. Blinkit, Zepto, Swiggy Instamart, and Flipkart Minutes are among the top quick commerce platforms in India. According to the report by Datum Intelligence, quick commerce market size is expected to reach $40 billion by 2030, a jump from $6.1 billion in 2024.

The founder and non-executive director of Kotak Mahindra Bank said that India is a unique country in the world where quick service retail has succeeded, unlike in most other parts of the world where this model has not been as effective.
While Kotak acknowledged the positive impact of Indian innovation, he emphasized the need for Indian businesses to develop strong consumer brands like Apple, Meta, and Unilever. He stressed the importance of focusing on product innovation and creativity to compete globally.
Kotak also warned against excessive protectionism for domestic businesses, arguing that it hinders long-term competitiveness. He advocated for a more open trade environment, allowing Indian businesses to thrive in a global marketplace.
In light of potential global economic shifts, Kotak urged India to be prepared for potential capital outflows from foreign portfolio investors. He also called for an increase in the defense budget to bolster the country's overall strength.