Dhanteras generated an estimated Rs 1.25 lakh crore in business across India on Friday, setting a new record for the country's retail sector, the Confederation of All India Traders (CAIT) said, as consumers flocked to markets to buy gold, silver, automobiles, electronics, utensils and other auspicious items ahead of Diwali.

Source: IANS

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.

Gold and silver did the heavy lifting

Gold and silver sales alone crossed Rs 66,000 crore, accounting for nearly 53 per cent of total Dhanteras trade, according to estimates of the All India Jewellers and Goldsmith Federation (AIJGF). Delhi's bullion market alone is estimated to have contributed over Rs 10,000 crore in business.

Source: NewKerala (IANS)

The buying held up despite high bullion prices. In its morning assessment, CAIT — citing the AIJGF — said demand for lightweight jewellery, silver coins and traditional gift items had risen, and put 24-karat gold at Rs 1,41,840 per 10 grams, about 20 per cent higher than last year.

Source: ANI via Daily Prabhat

Part of a bigger festive season

The record day comes against CAIT's earlier estimate that business during the Navratri-to-Diwali festive period could exceed Rs 7 lakh crore, an increase of 15 to 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.