New Delhi: Dhanteras generated an estimated Rs 1.25 lakh crore in business across India, setting a new record for the country’s retail sector as consumers flocked to markets to purchase gold, silver, automobiles, electronics, utensils and other auspicious items ahead of Diwali, the Confederation of All India Traders (CAIT) said on Friday.
The traders’ body said the festive buying momentum reflected strong consumer confidence, rising purchasing power and growing preference for purchases from traditional markets and domestic brands.
CAIT Secretary General and Chandni Chowk MP Praveen Khandelwal said Dhanteras once again demonstrated the strength of India’s retail economy, with heavy footfall reported across jewellery markets, automobile showrooms, electronics hubs and neighbourhood stores.
Apart from that, gold and silver sales alone crossed Rs 66,000 crore, accounting for nearly 53 per cent of total Dhanteras trade, as per estimates of the All India Jewellers and Goldsmith Federation (AIJGF).
Delhi’s bullion market is estimated to have contributed over Rs 10,000 crore in business.
Despite record-high precious metal prices, demand remained robust, particularly for lightweight jewellery, traditional ornaments, silver coins and investment-led purchases.
Traders reported strong interest in 14-carat and 18-carat gold jewellery along with silver articles considered auspicious during the festival.
Apart from bullion, consumers spent heavily on automobiles, smartphones, laptops, televisions, home appliances, electrical goods, kitchenware and religious items, helping drive broad-based festive demand.
Khandelwal said the strong performance was supported by rising preference for Indian-made products and increased consumer support for local manufacturers, artisans, traders and MSMEs.
The record Dhanteras sales come amid CAIT’s earlier estimate that business during the Navratri-to-Diwali festive period could exceed Rs 7 lakh crore, an increase of 15-18 per cent over last year’s festive trade of about Rs 6.05 lakh crore.
CAIT said the strong Dhanteras performance underscores the resilience of India’s domestic consumption market and highlights the growing role of festive spending in supporting trade and economic growth.