E-way Bills For Goods Soar To 11.7cr As Trade Surges In Oct

New Delhi: Thee-way bill generation for the transportation of goods from production centres to markets across the country soared to a record high of 11.7 crore during October, representing a 17 per cent jump over the same month of the previous year, data from the Goods and Services Tax Network (GSTN) showed.

The surge in e-way bills reflects the increase in economic activity as the manufacturing sector accelerates to meet the growing demand in the economy during the festive season. The figures are in line with the HSBC survey, released earlier this week, which showed that India’s manufacturing sector growth accelerated in October, fuelled by faster increases in total new orders and international sales leading to the creation of more jobs during the month.

The upturn in performance was boosted by stronger demand for Indian goods. Companies noted a quicker increase in order book volumes that was stronger than the average seen in nearly 20 years of data collection. Anecdotal evidence suggested that the introduction of new products and successful marketing initiatives helped enhance sales performances, the report said.