Study finds Indian firms leading in e-invoicing adoption among biz from 6 major economies
Indian companies
lead in
e-invoicing adoption
and market penetration among businesses surveyed from six countries, including the US and the UK, according to a study.
Indian companies reported more than 80 per cent of invoices are received electronically, outpacing the global average of 71.5 per cent, claimed the study of 1,720 businesses across six major markets - the US, the UK, France, Germany, India, and Australia.
The study was conducted by tax compliance firm
Avalara
and the Center for Economics and Business Research (Cebr).
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Meet The Pillow That Is Changing The Lives Of People With Sleep Apnea (It's Genius!)
Health Insight
Undo
It stated that full-scale adoption of e-invoicing by Indian firms could unlock approximately Rs 32,035.71 crore in annual economic value and save the average Indian business approximately Rs 1.09 crore each year driven by
productivity
gains, reduced fraud, and faster payments.
"India leads globally in e-invoicing adoption and market penetration, with over 80 per cent of invoices received and 70 per cent issued electronically, outpacing the global averages of 71.5 per cent and 68.2 per cent respectively," the study said.
Live Events
While many of the early benefits of e-invoicing adoption have been absorbed through government mandates under GST-now applicable to businesses with turnover above Rs 5 crore-India still recorded the highest global satisfaction rate, with 68 per cent of businesses satisfied and 50 per cent extremely satisfied with e-invoicing's performance, the study said.
It also highlighted the need to deepen integration, especially for Micro, Small, and Medium Enterprises (MSMEs), and smaller businesses. The average Indian business adopting e-invoicing processes 3,827 invoices per week, one of the highest globally, the study claimed.
"While compliance has improved, broader B2B integration and MSME and
SMB
inclusion are now critical to realise the full ₹32,035.71 crores opportunity. E-invoicing must evolve beyond being a tax compliance requirement into a strategic business enabler," Anil Paranjape, General Manager, India Operations, Avalara said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Wire
11 minutes ago
- The Wire
Ahmedabad University Emerges as a Leading Alternative to Studying Abroad
Ahmedabad, Gujarat, India (NewsVoir) As global uncertainties increasingly affect student plans to study overseas, including visa delays, shifting immigration policies, and rising costs, Ahmedabad University is emerging as a strong and credible alternative for those seeking a globally benchmarked education closer to home. Ahmedabad University offers students the opportunity to learn from world-class faculty, many of whom hold doctoral degrees from some of the world's top universities such as Stanford University, the University of Cambridge, Yale University, the Massachusetts Institute of Technology (MIT), the University of Chicago, University College London (UCL), and the University of Pennsylvania. These scholars bring international academic training and research experience into classrooms designed for deep engagement and critical thinking. Professor Pankaj Chandra, Vice Chancellor of Ahmedabad University, said, "At Ahmedabad University, we are reimagining the idea of a modern Indian university. We offer global standards of education while being deeply anchored in local relevance. Our faculty, curriculum, and student experience are designed to cultivate thoughtful, ethical, and intellectually ambitious individuals. In a time when families are re-evaluating the value and feasibility of overseas education, we offer a compelling and future-ready alternative right here in India." The University's undergraduate journey begins with its distinctive Foundation Programme. This eighteen-week interdisciplinary core introduces all incoming students to complex, real-world challenges such as climate change, democracy, public health, and urban transformation. Designed to build the habits of citizenship and inquiry, the Foundation Programme sets the tone for a rigorous academic path. Ahmedabad University allows undergraduate students the flexibility to design their own academic journeys. They can choose from a wide array of 26 majors across disciplines such as engineering, life sciences, economics, computer science, history, psychology, management, and entrepreneurship. Students are encouraged to explore widely while gaining deep disciplinary knowledge, enabling them to address challenges that span fields and sectors. The University has also pioneered The BxMx Programme, a dual degree pathway which allows students to earn a combined Bachelor's and Master's degree in five years. At the graduate level, Ahmedabad University offers a strong portfolio of research-intensive and professionally oriented master's programmes. The MTech in Composites is India's first such programme and trains engineers in advanced materials for sectors such as aerospace, automotive, and renewable energy. The University also offers an MTech in Microelectronics and Semiconductors, aligned with the country's ambitions in the semiconductor sector. The MBA is designed as an interdisciplinary management degree with a strong focus on experiential learning and real-world problem solving. The MS in Quantitative Finance equips students with expertise in risk analytics, algorithmic trading, and financial modelling. The MS in Economics offers rigorous training in economic theory, quantitative methods, and data science, preparing students for careers in public policy, development, consulting, and academia. Ahmedabad University also offers India's only Master of Management Studies in Heritage Management, a unique programme for students and professionals aiming to work in cultural institutions, heritage conservation, and sustainable tourism. Located on a green, 158-acre campus in the heart of the city, Ahmedabad University offers a vibrant and inclusive student life. Twenty two active student-led clubs provide opportunities to explore interests ranging from entrepreneurship and heritage to astronomy and fine arts. A strong focus on innovation and entrepreneurship is fostered through VentureStudio, the University's startup incubator established in 2011 in collaboration with the Stanford University's Centre for Design Research. The campus's extensive cultural infrastructure and event calendar enrich the student experience. High-quality sporting facilities, including a multi-sport arena, tennis and basketball courts, and indoor spaces, support both recreational and competitive play. Food is also an essential part of life at the University, with diverse dining options including cafés and curated culinary experiences that reflect both local and global cuisines. In 2025, Ahmedabad University was named Leadership and Management Team of the Year at the Times Higher Education Awards Asia, the top honour among over 500 entries from 16 countries and territories. The judges praised the University's bold and imaginative transformation into a leading player in India's research and innovation landscape. Admissions are currently open for undergraduate and postgraduate programmes for the 2025 intake. The University offers generous merit- and need-based scholarships to support a diverse cohort of students. Prospective applicants can learn more and apply here. About Ahmedabad University Ahmedabad University is a leading private, non-profit research university offering students a liberal education focused on interdisciplinary learning, practice orientation, and research thinking. The University has been • Recognised by the Government of Gujarat as a Centre of Excellence. • Accredited with 'A' grade by the National Assessment and Accreditation Council (NAAC). • Awarded Leadership and Management Team of the Year at the Times Higher Education Awards Asia 2025. • Awarded a 5-star rating, the highest awarded in the Gujarat State Institutional Rating Framework (GSIRF) for 2021-22 and 2023-24, by the Knowledge Consortium of Gujarat (KCG), Department of Education, Government of Gujarat. • Awarded the Royal Institute of British Architects (RIBA) International Award for Excellence 2024 for our University Centre. • Awarded a 'Platinum Rating' by the Indian Green Building Council for sustainability and green practices. • Recognised by the UGC under Section 12(B) of the UGC Act, becoming one of the very few private research universities to have been awarded this recognition for select research universities. • Recognised as a Highly Commended University for Teaching and Learning Strategy of the Year in the Times Higher Education (THE) Awards Asia 2023. • Awarded the AACSB's Innovations That Inspire Award 2023 for its Foundation Programme. • Awarded Gold Rating by the Indian Green Building Council for achieving the Green Building Standards at our University Centre. The University, established in 2009, is rooted in the vision of one of India's finest educational foundations, the Ahmedabad Education Society, which was founded in 1935 by nationalist leaders. Programmes at the University range from bachelors to doctoral levels in humanities and social sciences, natural sciences, engineering, and management through its 13 Schools and Centres: Amrut Mody School of Management | Bagchi School of Public Health | School of Arts and Sciences | School of Engineering and Applied Science | Ahmedabad Design Lab | Centre for Heritage Management | Centre for Inter-Asian Research | Centre for Learning Futures | Global Centre for Environment and Energy | International Centre for Space and Cosmology | Sahyog: Centre for Promoting Health | The Climate Institute | VentureStudio An urban university, Ahmedabad promotes independent-mindedness and diversity across all dimensions of its activity and helps students mature into critical thinkers who are analytically equipped, practically oriented, and contextually aware global citizens. The University provides a contemporary educational framework that brings liberal arts, sciences, and the professions to engage together in creating new knowledge for addressing complex challenges of the society and in offering majors that merge the boundaries of disciplines to prepare students for the new economy. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.).
Fashion Value Chain
12 minutes ago
- Fashion Value Chain
NFO Alert: Introducing Bajaj Finserv Small Cap Fund
Risk is often misunderstood as something to be avoided, but in investing, it's the fuel that can power long-term returns. It's also important to recognize that risk isn't defined by size – sometimes, even large, familiar companies can fail due to issues like poor governance or excessive debt. Long-term outperformance doesn't come from size alone, but from quality, strong governance, and sustainable growth. Invest in Bajaj Finserv Small Cap Fund NFO The key is not to avoid risk, but to understand it, manage it, and potentially use it to your advantage. This is especially true in the small cap space, which tends to be highly volatile. But in investing, higher risk usually means higher potential returns. To tap into the potential of small caps while mitigating risk through research-backed stock selection, the Bajaj Finserv AMC announces the launch of Bajaj Finserv Small Cap Fund with a 3-in-1 advantage: Quality – companies with distinct competitive advantage, Growth – companies with high scalability potential, and Value – companies that are trading at below their intrinsic value. The New Fund Offer period begins on June 27, 2025 and is on till July 11, 2025. Units will be available at a offer price of Rs. 10 during the NFO. What are small cap funds Small cap companies are businesses ranked 251st and beyond on the basis of market capitalisation on the stock exchange as per SEBI guidelines. They often operate in emerging sectors and may offer higher growth potential over the long term. For instance, in the past half-a-decade, small caps have outpaced large and mid-caps in profit contribution, growing up to 2.5X faster. Source: Ace Equity, Data as on Dec 31, 2024 Alongside this, small cap funds offer a broader diversification, spanning across sectors, themes and offering exposure to the companies powering India's growth story. Source: BSE, Data as on May 31, 2025 Why invest in small caps now The FY25 market correction has brought down small cap prices, but the fundamentals of several companies remain strong, creating a suitable entry point. Profit growth and return ratios continue to be healthy, highlighting the strength of earnings potential. Source: Ace Equity Many small caps are leading quietly in niche markets, driving innovation and expansion. This makes it a suitable time to make an entry into the small caps market. Why Bajaj Finserv Small Cap Fund Three-pronged alpha strategy : A balanced blend of Growth, Quality, and Value styles. Differentiated investment process : The proprietary INQUBE framework leverages top-down megatrends, bottom-up stock selection, and behavioural insights. Investment expertise: Bajaj Finserv AMC has a seasoned investment team with deep multi-sector expertise. The company currently has 78 unique small cap holdings across existing funds. The five pillars of Bajaj Finserv Small Cap Fund Quality : The fund will focus on companies with sound fundamentals, consistent earnings performance, and sustainable competitive advantages. Growth : Portfolio will comprise businesses with a long-term growth vision, scalable models, and the potential to sustain performance over time. Undervalued opportunities : The fund identifies stocks trading below their intrinsic value, often strong companies facing temporary mispricing or undergoing business turnarounds. Leadership : The fund backs emerging category leaders that dominate niche segments and hold high market share in specific micro-markets. Governance: The portfolio prioritises companies with transparent business practices, aligned promoter interests, and experienced, credible management teams. Plan steady investments in small cap funds One way to build long-term exposure to small caps is through a Systematic Investment Plan. With the help of an SIP calculator, you can plan your SIPs in a small cap fund. An SIP calculator helps you visualise how regular monthly investments can grow over time. SIPs allows you to invest regularly while managing market volatility through rupee-cost averaging. When you use an SIP calculator, you can set realistic goals, stay consistent and take advantage of the power of compounding as well as rupee cost averaging. With an SIP in Bajaj Finserv Small Cap Fund, you can not only explore the small cap sector but also experience potential growth while mitigating risks. How to invest You can invest in the Bajaj Finserv Small Cap Fund both online as well as offline. Any investment you make can be done directly or through a mutual fund distributor. To learn more about the fund and invest, visit New Fund Offer Opens on: Friday, June 27, 2025 New Fund Offer Closes on: Friday, July 11, 2025 Scheme re-opens on: Within five business days of allotment date Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Time of India
13 minutes ago
- Time of India
US-China trade deal: After Donald Trump, China says details of deal ‘confirmed'; adds America to 'cancel series of restrictive measures'
Earlier in the day, Trump said that the United States and China have reached a trade agreement. (AI image) US-China trade deal: Soon after US President Donald Trump announced a trade deal, China has also confirmed that details have been finalized. China also said that United States will 'cancel a series of restrictive measures'. Earlier in the day, Trump said that the United States and China have reached a trade agreement. He also indicated an anticipated deal with India. According to Commerce Secretary Howard Lutnick's interview with Bloomberg TV, the agreement was finalized earlier this week, though specific details were not disclosed. "We just signed with China the other day," Trump said. Lutnick confirmed the agreement was "signed and sealed" two days prior. US-China Trade Deal This development follows initial discussions in Geneva in early May, where both nations agreed to delay substantial tariff increases that threatened bilateral trade. Subsequent talks in London established a negotiation framework, with Trump's mentioned deal appearing to formalise these arrangements. Also Read | 'Very big one': Donald Trump hints India, US on cusp of 'great' trade deal; 10 things to know "The president likes to close these deals himself. He's the dealmaker. We're going to have deal after deal," Lutnick said, according to an AP report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Scam Exposed: What They Won't Tell You about zero trust! Expertinspector Click Here Undo China disclosed earlier this week an acceleration in rare earth export approvals, crucial materials for high-technology products including electric vehicles. Beijing's export restrictions on rare earths have been a significant point of dispute. The Chinese Commerce Ministry announced Thursday that Beijing was expediting the review process for rare earth export licence applications and had approved several applications that met requirements. Export restrictions on minerals overshadowed tariffs during recent trade talks between Beijing and Washington, following China's implementation of licensing requirements for seven rare earth elements in April. This action potentially threatened to affect production of vehicles, robotics, wind turbines and advanced technological items in the United States and globally. The Geneva accord reached in May required both nations to reduce retaliatory tariff increases implemented during Trump's trade war escalation. However, certain elevated tariffs persist, including Washington's duties related to fentanyl trade and those on aluminium and steel. Also Read | Indian team in US for fresh talks on trade deal These dynamic policy changes are negatively impacting both leading global economies. The US economy declined at a 0.5 per cent annual rate from January through March, partially due to increased imports as businesses and consumers acquired foreign products before Trump's potential tariff implementation. Chinese manufacturing profits decreased by more than 9 per cent year-over-year in May, with automotive manufacturers experiencing significant losses. The January-May period showed a decline exceeding 1 per cent compared to the previous year. Trump and US officials expressed optimism about securing trade agreements with numerous countries, including India. "We're going to have deal after deal after deal," Lutnick said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
