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Record-Breaking Festive Shopping Pushes Dhanteras Turnover Past ₹1 Lakh Crore
Dhanteras: According to the Confederation of All India Traders, this year's Dhanteras festival could see turnover surpass ₹1 lakh crore due to heavy shopping. On this day, people across the country traditionally purchase gold, silver, utensils, kitchen items, vehicles, brooms, electronic and electrical goods, idols of Goddess Lakshmi and Lord Ganesha, earthen lamps, and other puja materials.
Dhanteras is anticipated to witness a turnover cross ₹1 lakh crore with heavy shopping. Confederation of All India Traders (CAIT) has approximated that sales of gold and silver alone will cross ₹60,000 crore across the country.
The trade organization said that each festival in India carries special meaning, but Dhanteras occupies a special and prosperous position. On this day, citizens all over the nation traditionally buy gold, silver, utensils, kitchenware, cars, brooms, electric and electronic appliances, idols of Goddess Lakshmi and Lord Ganesha, earthen lamps, etc., and other puja items. CAIT General Secretary Praveen Khandelwal stated that purchasing new kitchen utensils of copper, silver, or steel on Dhanteras is auspicious, representing purity and prosperity.
According to Vastu Shastra, purchasing a broom on this day helps ward off poverty and negativity and brings 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.
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According to Pankaj Arora, National President of the All India Jewellers and Goldsmiths Federation (AIJGF), the jewellery chapter of CAIT, jewellery markets have witnessed a heavy rush over the past two days. According to preliminary estimates, gold and silver trade alone exceeded ₹60,000 crore, with Delhi's bullion markets registering sales of over ₹10,000 crore, a 25 percent increase compared to last year.
Last year, gold prices were around ₹80,000 per 10 grams, while this year it has crossed ₹1,30,000 per 10 grams, an increase of approximately 60 percent. Similarly, silver prices have risen from ₹98,000 per kilogram to ₹1,80,000 in 2024, an increase of approximately 55 percent.
According to CAIT, despite the sharp increase, consumers have continued to buy gold and silver, considering them the safest form of investment. Regular customers have preferred lightweight jewelry this season.
CAIT also shared that this year, Dhanteras witnessed record-breaking sales across several sectors, including utensils and kitchenware worth Rs 15,000 crore and electrical goods worth Rs 10,000 crore, decorative items, lamps, and puja items worth Rs 3,000 crore, and dry fruits, sweets, fruits, textiles, vehicles, and miscellaneous items worth Rs 12,000 crore.
CAIT also pointed out that the sharp increase in festive trade this year is primarily due to the reduction in GST rates and the impact of Prime Minister Narendra Modi's Swadeshi Apnao Abhiyan. Consumers are showing a preference for locally manufactured Indian products. This is benefiting small traders, artisans, and manufacturers across the country.
