Impact of Eway Bill on FMCG Sector

FMCG (Fast-Moving Consumer Goods) sector consists of businesses dealing in goods that are quickly consumable (therefore called fast-moving) such as milk and dairy products, beverages, cosmetics, etc. Since FMCGs have a short shelf life, quick delivery of goods is critical in the FMCG sector. The introduction of the e-way bill system 2018, apart from facilitating a smoother and faster transfer of goods, has benefitted the FMCG industry in many other ways as well. In this article, we will be discussing how the e-way bill system has benefited the businesses in the FMCG sector, which happens to be the fourth largest sector in the Indian economy.

The FMCG industry is a vast industry and a large class of products fall in the FMCG category. Products that fall in the FMCG category include:

• Fresh/Frozen Food and Dairy Products: Milk, curd, fruits, vegetables, raisins and nuts

• Processed Food: Cereals, potato chips and packaged pasta

• Beverages: Bottled water, soft drinks, energy drinks, and fruit juices

• Baked Products: Biscuits, cookies, and bagels

• Prepared Food: Ready-to-eat meals

• Toiletries: Soaps, toothpaste, and hair care products

• Cleaning Products: Window/glass cleaner, baking soda, dish cleaner and oven cleaner

• Stationery and Office Supplies: Pen, pencil, eraser and marker

The recently introduced e-way bill system by the government of India has helped the FMCG sector in a number of ways. It has not only ensured better compliance of norms by the transporters but has also improved the efficiency of the businesses. You can learn how to generate e-way bills through the e-way bill login portal on Bajaj Markets, the exclusive financial services marketplace.