Beyond Warehouses: Building the Infrastructure of Commerce
1. The New Geography of Indian Commerce For much of the first phase of India’s e-commerce revolution, the geography of digital commerce was closely associated with the country’s major metropolitan markets. This was understandable. Dense populations, higher purchasing power, better logistics, greater digital adoption, and concentrated consumer demand made the largest cities natural starting points for online retail. The physical infrastructure required to support e-commerce could also be concentrated around these markets. That geography is now changing. Quick commerce provides perhaps the clearest illustration. By August 2026, dark stores operated by quick-commerce companies had spread across 477 Indian cities, according to a report by CLSA, released on 27 August. The expansion is no longer simply a matter of adding more dark stores to established metropolitan networks. Newer entrants are deliberately targeting underpenetrated geographies, while established companies are testing relativ...