Dhanteras Trade Boom: How India's Festive Spending Crossed Rs 1 Lakh Crore

The trade body said that each festival in India carries its own special significance, but Dhanteras holds a unique and auspicious place.

On this day, people across the country traditionally buy gold, silver, utensils, kitchenware, vehicles, brooms, electronic and electrical goods, idols of Goddess Lakshmi and Lord Ganesha, clay lamps, and other puja materials, all considered symbols of prosperity.

CAIT Secretary General Praveen Khandelwal said, "The total business on Dhanteras, including gold, silver, and other auspicious items, is estimated to have crossed Rs 1 lakh crore across the country."

He added that buying new utensils made of copper, silver, or steel on Dhanteras is considered auspicious, symbolising purity and prosperity.

According to Vastu Shastra, purchasing a broom on this day is believed to ward off poverty and negativity, inviting the blessings of Goddess Lakshmi.

In modern times, people also purchase mobile phones, laptops, tablets, and other electronic gadgets, which are often seen as symbols of progress and good fortune.

According to Pankaj Arora, National President of CAIT's jewellery chapter, the All India Jewellers and Goldsmith Federation (AIJGF), "the past two days have seen an unprecedented rush in jewellery markets. As per preliminary estimates, the gold and silver trade alone exceeded Rs 60,000 crore, while Delhi's bullion markets recorded sales worth over Rs 10,000 crore, marking a 25 per cent rise compared to last year."

Last year, the price of gold was around Rs 80,000 per 10 grams, whereas this year it has crossed Rs 1,30,000 per 10 grams, a rise of about 60 per cent. Similarly, silver prices have surged from Rs 98,000 per kilogram in 2024 to Rs 1,80,000, an increase of roughly 55 per cent.

Despite the sharp rise, as per CAIT, consumers have continued buying gold and silver, as they are considered the most secure forms of investment, while regular customers preferred lightweight jewellery this season.

CAIT also shared that this year, Dhanteras witnessed record-breaking sales across multiple sectors -- Utensils & Kitchenware/Appliances Rs 15,000 crore, Electronic & Electrical Goods Rs 10,000 crore, Decorative Items, Lamps & Puja Materials Rs 3,000 crore, and Dry Fruits, Sweets, Fruits, Textiles, Vehicles & Miscellaneous Items Rs 12,000 crore.

CAIT also highlighted that the sharp rise in festive trade this year is largely due to reductions in GST rates and the impact of Prime Minister Narendra Modi's "Swadeshi Aapnao" (Adopt Indigenous Products) campaign.

Consumers are showing a clear preference for locally made Indian products, benefiting small traders, artisans, and manufacturers across the country.

- ANI