New Delhi, Jan 10 (IANS): The E-way bills in India reached their second-highest level in the month of December at 112 million, up 17.6 per cent year-on-year.

According to data by the Goods and Services Tax Network (GSTN) portal, this also marks a key increase from November's 101.8 million.

Last month's e-way bill generation marked a 10 per cent rise from November and an 18 per cent hike compared to December 2023.

E-way bills are mandatory for the movement of consignments worth Rs 50,000 and more. A hike in E-way bills indicates higher movement of goods.

Earlier, electronic permits reached 117.2 million in October amid the festive season.

According to experts, the robust recovery in e-way bill generation suggests stabilisation of goods movement after the festive season peak and underscores several positive developments, including increased manufacturing output, improved infrastructure and logistics efficiencies.

This also shows greater formalisation in the economy as compliance levels rise under the GST regime, they noted.

Meanwhile, India’s industrial growth, reflected in the Index of Industrial Production (IIP), accelerated to a 6-month high of 5.2 per cent in November, up from 3.5 per cent in October of the current financial year (2024-25).

The increase also marks a significant rise over the industrial growth of 2.5 per cent recorded a year before in November 2023.

Within the manufacturing sector, 18 out of 23 industry groups have recorded positive growth in November this year over November 2023.

Also, India’s GDP growth momentum has improved in the October-December quarter of the current financial year (FY25) and inflation has eased, according to an HSBC Research report.

The analysis of 100 activity indicators suggested that the growth momentum has improved in the quarter ending December.