New Delhi: Setting a remarkable new benchmark for festive commerce, the total business turnover across Indian markets on Dhanteras is estimated to have crossed a staggering Rs 1.25 lakh crore this year. Driven by a surge in consumer demand and an overwhelming preference for indigenous products, shoppers thronged markets nationwide to purchase everything from precious metals to automobiles and electronics.
According to data shared by the Confederation of All India Traders (CAIT), the traditional bullion market remained the biggest contributor to this retail boom. Out of the estimated Rs 1.25 lakh crore, the trade in gold and silver alone accounted for over Rs 66,000 crore. Interestingly, this massive influx of buying occurred despite gold and silver trading at near-record highs.
Pankaj Arora, National President of the All India Jewellers and Goldsmith Federation (AIJGF), noted that the rush in jewellery markets began well before the actual festival. “This time the total turnover of gold and silver is estimated to be more than Rs 66,000 crore,” he stated, adding that the bullion market in Delhi alone recorded a massive trade of over Rs 10,000 crore. Customers showed a marked preference for lightweight jewellery, traditional ornaments, and silver coins.
Beyond the glitter of precious metals, the modern Dhanteras shopping list has expanded significantly. CAIT National General Secretary and Member of Parliament, Praveen Khandelwal, highlighted the evolving consumer trends. “Dhanteras has once again shown the strength of the country’s traditional markets. On this occasion, apart from gold and silver, people also bought utensils, kitchen items, electronics, electrical appliances, and other household necessities,” Khandelwal remarked.
The retail footprint extended heavily into the automobile and electronics sectors. Showrooms for cars and two-wheelers reported high footfalls, while sales of smartphones, laptops, televisions, and home appliances witnessed a sharp upward trajectory.
Khandelwal also attributed this festive retail success to strategic economic factors, including reductions in GST rates and a growing national push for ‘Vocal for Local’. He noted that Indian consumers are increasingly prioritising domestic brands, thereby directly benefiting small businesses, local shopkeepers, artisans, and MSMEs across the country. The robust Rs 1.25 lakh crore turnover is being viewed by economic experts as a strong indicator of rising consumer confidence and resilient purchasing power in the domestic market.