This year's Dhanteras celebrations set new benchmarks for consumer spending in India. According to the Confederation of All India Traders (CAIT), Indians collectively spent approximately ₹1 lakh crore on Dhanteras, marking a significant surge compared to previous years and highlighting a strong economic sentiment.
Gold and Silver Sales Soar
The dominant contributor to this record spending was the gold and silver segment, which alone accounted for ₹60,000 crore in sales, a substantial 25% increase from the previous year. While the volume of gold sold saw a marginal dip of about 10% due to record-high. Prices, the overall value witnessed a sharp jump, as per the India Bullion and Jewellers Association. Delhi alone reported over ₹10,000 crore in sales, while the price of gold has surged by ₹53,422 (70. 14%) this year to ₹1,29,584 per 10 grams, while silver has increased by ₹83,213 (96. 74%) to ₹1,69,230 per kg.
Strong Growth Across Other Categories
Beyond precious metals, other sectors also demonstrated strong performance. The utensils and kitchen appliances segment recorded sales worth ₹15,000 crore, while electronics contributed approximately ₹10,000 crore. Decorative items, lamps, and puja essentials saw sales of ₹3,000 crore. Also, dry fruits, sweets, fruits, textiles, and vehicles collectively generated ₹12,000 crore in sales.
Automobile Sector Drives Deliveries
The automobile sector also enjoyed a festive boost. The Federation of Automobile Dealers Associations (FADA) estimated sales of around 1 lakh cars, translating to a total business of approximately ₹8,000 crore. Maruti Suzuki India led the pack, expecting to sell around 50,000 cars, up from 42,000 last year. Hyundai Motor India delivered over 14,000 units, a 20% increase year-on-year, while other major players like Toyota, Tata Motors, Mahindra & Mahindra, and Kia India collectively delivered about 35,000 cars. Praveen Khandelwal, CAIT Secretary General, attributed the spending surge to GST rate reductions and. Prime Minister Narendra Modi's 'Local Products' promotion initiative, fostering a preference for Indian-made goods.
