New Delhi, Aug. 6 -- India's supply chains were humming in July, with e-way bill generation, a key indicator of goods movement across and within states, hitting a record high of 131.9 million.

The surge was fuelled by a combination of factors: strengthening rural demand, pre-festive inventory stocking, and exporters potentially front-loading shipments to the US ahead of a 25% reciprocal tariff taking effect 7 August.

Data from the Goods and Services Tax Network (GSTN), which processes GST returns, showed e-way bill generation rose nearly 26% year-on-year and 10.4% from June, marking one of the strongest monthly increases in recent memory.

"Since e-way bills represent the physical movement of goods within Bharat, a large increase in Jul...