In India, shoppers went out in force on Dhanteras, the day that kicks off the big Diwali celebrations, driving total trade past ₹1 lakh crore. This marks one of the strongest festive shopping seasons in recent years, authorities say.
Gold and silver alone pulled in more than ₹60 000 crore. In Delhi, traders reported transactions over ₹10 000 crore, a 25 % jump from last year. The surge comes as the excitement around buying for good luck—especially gold and silver jewelry, kitchenware, and household items—not only grows, but also sees prices climb sharply.
Last Diwali, gold was about ₹80 000 per 10 grams. This year, it jumped to over ₹130 000, up nearly 60 %. Silver prices also rose, from ₹98 000 per kilogram in 2024 to more than ₹180 000—a rise of roughly 55 %. Even with the higher prices, the metal remains a popular safe-haven investment.
People don’t just buy gold and silver; they bag whole sets of kitchen utensils made of copper, steel or silver, and even fresh brooms – a tradition believed to sweep away poverty and welcome Goddess Lakshmi’s blessings. Modern consumers also add phones, laptops, and other gadgets to their lists, reflecting a broader sense of prosperity.
CAIT’s National General Secretary, Praveen Khandelwal, highlighted how Dhanteras is linked to the myth of Lord Dhanvantari, who appeared with a pot of nectar during the great churning of the ocean. “It’s a day that symbolizes health and prosperity,” he said.
Pankaj Arora, CAIT’s National President, noted that the combined turnover of gold, silver jewelry, and related items nationwide topped ₹60 000 crore. He added that the sharp rise in demand was fueled by lowered GST rates and the popularity of Prime Minister Narendra Modi’s “Vocal for Local” campaign, encouraging people to buy domestically made products.
The figures Khandelwal gave break down the entire country’s sales: ₹15 000 crore in gold and silver, kitchenware, and appliances; ₹10 000 crore in electronics; ₹3 000 crore in decorations, lamps, and puja materials; ₹12 000 crore in dry fruits, sweets, clothing, and vehicles. Across the nation, Dhanteras trade sits at about ₹1 lakh crore.
With enthusiasm spilling into malls, local bazaars, bullion markets, and electronics shops, Dhanteras and Diwali have become symbols of not just faith, but also economic dynamism and a growing appetite for Indian-made goods.
Source: ianslive
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