As Dhanteras marks the beginning of the festive season, India’s retail sector is witnessing a significant surge in sales, with traders gearing up to meet rising demand. The Confederation of All India Traders (CAIT) estimates that retail trade during Dhanteras could reach around ₹60,000 crore, highlighting a strong preference for local products.
Praveen Khandelwal, Secretary General of CAIT and MP from Chandni Chowk, noted the positive impact of the “Vocal for Local” initiative, stating that most purchases are now focused on Indian-made goods. He added that the decrease in sales of Diwali-related Chinese products is expected to result in a loss of ₹1.25 trillion for China this season.
Support for Local Artisans
In line with Prime Minister Narendra Modi’s encouragement to back local artisans, CAIT is urging trade associations to boost sales for local women, potters, and craftsmen, ensuring they can also enjoy a prosperous Diwali. On October 30, MP Khandelwal, along with BJP workers and trade leaders, plans to buy clay diyas and other decorations from local potters in Chandni Chowk to promote this campaign. Similarly, CAIT leaders across Delhi and other states are set to purchase locally crafted items, reinforcing their commitment to supporting home-grown products.
Dhanteras is traditionally a time for worshipping Lord Ganesha, Goddess Lakshmi, and Lord Kuber, as well as for acquiring new items to invite prosperity. Popular purchases include gold and silver jewelry, utensils, vehicles, electronics, business equipment, and household goods. On October 29 alone, gold sales were estimated at ₹20,000 crore, while silver sales were around ₹2,500 crore, according to Shri Pankaj Arora, National President of CAIT’s All India Jewelers and Goldsmith Federation (AIJGF).
Arora mentioned that while the quantity of items sold may have decreased due to rising prices, the overall monetary sales have surged, with approximately 25 tonnes of gold and 250 tonnes of silver sold across the country. Additionally, there has been a resurgence in demand for old silver coins, which are fetching prices between ₹1,200 and ₹1,300 each.
Thriving Retail Markets
Delhi’s vibrant retail areas, such as Chandni Chowk, Dariba Kalan, Sadar Bazaar, and Lajpat Nagar, experienced a spike in sales as shoppers flocked to the markets in celebration of the auspicious occasion.
Acharya Durgesh Tare, convenor of CAIT’s Vedic and Astrology Committee, highlighted Dhanteras as the day marking the appearance of Lord Dhanvantari, symbolizing health and wellness. He noted the tradition of purchasing brass utensils on this day, emphasizing its importance in catering and hospitality. Additionally, it is customary to honor Lord Yama, the god of death, by lighting a ‘Yam Deepak’ in the south direction, a practice considered auspicious during Dhanteras.
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