E-way bill generation hits second-highest level in January at 136.83 mn

E-way bill generation rose to 136.83 million in January, the second-highest monthly level on record, marking a 42.6 per cent year-on-year increase amid stronger goods movement

E-way bill generation rose sharply in January, with total e-way bills generated at 136.83 million, the second-highest monthly level recorded so far. On a year-on-year (Y-o-Y) basis, e-way bill generation in January grew 42.6 per cent from 95.96 million in the same month last year. The January number was marginally lower than the all-time high of 138.39 million, which was recorded in the month of December last year.

 

What is an e-way bill under the GST system?

 

An e-way bill is a digitally generated document under the goods and services tax (GST) system that is mandatory for transporting goods worth more than Rs 50,000 from one place to another, either within a state or across states. It has the details of the consignment, consignor, consignee and transporter, and is aimed at curbing tax evasion while enabling real-time tracking of goods movement across states.

 

 

E-way bill growth reflects consumption-led demand and GST measures

 

The significant rise in e-way bills demonstrates continued consumption-led demand driven by GST rate rationalisation and other measures undertaken by the central government. This level of growth augurs well for a strong domestic economy and with a US trade deal tied up which will boost exports, it gives a dual growth momentum, according to Abhishek Jain, partner with KPMG.

 

According to Harpreet Singh, partner with Deloitte, “January’s surge points to a stronger supply-chain throughout manufacturing dispatches, wholesale trade and inter-state logistics. The 42.6 per cent year-on-year growth indicates not just higher activity, but also improved compliance under GST, which tends to translate into former indirect tax buoyancy.”

 

Echoing the same, Pratik Jain, Partner with Price Waterhouse said, “Strong growth in e-way bills points to broad-based pick up in goods movement and sustained economic momentum, specially in manufacturing and logistics. This should result in GST collections for the month as well.”

 

E-way bill rise aligns with domestic consumption and GDP growth outlook

 

Higher e-way bill generation also aligns with broader domestic consumption trends with private final consumption expenditure (PFCE) projected to grow by 7 per cent in 2025–26, marginally lower than the 7.2 per cent recorded in 2024–25, while accounting for 61.5 per cent of the gross domestic product (GDP), the highest share since FY12. This supports overall real GDP growth estimated at 7.4 per cent, up from 6.5 per cent in the previous year, as per the First Advance Estimates released in January 2026, and reaffirmed in the Union Budget 2026-27.