New Delhi: Markets across the country witnessed strong shopping enthusiasm on the occasion of Dhanteras. Driven by demand for gold and silver, jewellery, vehicles, electronics and household goods, total trade in the country crossed Rs 1.25 lakh crore this time. According to the Confederation of All India Traders (CAIT), this is an all-time record for retail trade. Gold and silver trade alone accounted for more than Rs 66 thousand crore.
CAIT national general secretary and Chandni Chowk MP Praveen Khandelwal said traditional markets, jewellery showrooms, automobile centres and electronics markets saw heavy customer footfall on Dhanteras. According to estimates by the All India Jewellers and Goldsmith Federation, gold and silver accounted for about 53 percent of the total business. In Delhi’s bullion market too, trade of more than Rs 10 thousand crore was estimated.
Despite high prices of precious metals, customers showed interest in buying. However, because of expensive gold, demand rose for lightweight ornaments and 14- and 18-carat jewellery. Silver coins, traditional ornaments and decorative items also remained popular among buyers.
Apart from gold and silver, cars, two-wheelers, mobile phones, laptops, televisions, household appliances, utensils and decorative goods also saw good sales. According to traders, the trend of buying new jewellery in exchange for old gold was also visible in the market.
CAIT described the business as a sign of strong consumer demand and rising confidence in the domestic market. During the festival, local traders, artisans and small industries are also estimated to have benefited from good sales.
