In economics, an oligopoly is defined as a situation where a limited number of competitors control the market for a product or service. Based on this definition, the food delivery platform sector in India can be defined in market terms as an oligopoly as two companies, Swiggy and Zomato, exercise dominant market control. According to the National Restaurant Association on India (NRAI) , the two companies between each other controlled 95% of the Indian market. Further, Swiggy controlled 70% of the South Indian market for food delivery, while Zomato controlled 70% of the North Indian market.

Similarly, in the ride-hail platforms sector, the three largest companies, Uber, Ola and Rapido dominate the market. Some estimates place Uber as the leading player for platform taxis, with 50% of the Indian market share, followed by Ola with 34% and Rapido with 14%, their combined market share thus hovering at 98%. The same estimates had Uber with 40% of the autorickshaw market, Ola with 26% and Rapido with 31%, adding to 97%; in the bike taxi service, Rapido alone had 56% of the market share. We should clarify here that the market
domination is within the platform-based ride-hail sectors; this excludes the large number of private taxis and autorickshaws that remain outside the platform economy.