New Delhi, June 26 -- Full-scale adoption of electronic invoicing (e-invoicing) in India could unlock approximately Rs.32,035.71 crores in economic value annually and save the average Indian business around Rs.1.09 crores each year, according to a new global report released by Avalara,a leader in tax compliance automation, in partnership with theCentre for Economics and Business Research (Cebr).

The study spans six major economies-India, Australia, the United States, the United Kingdom, Germany, and France-and positions India as the global leader in e-invoicing adoption and penetration. Over 80% of invoices received and 70% issued in India are now electronic, significantly ahead of the global averages of 71.5% and 68.2% respectively.

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