The festival of Dhanteras has set cash registers ringing across India's jewellery sector with unprecedented fervour, recording staggering sales of approximately ₹85,000 crore. This spectacular performance has industry experts predicting that total jewellery sales will comfortably cross the ₹1 lakh crore mark by Diwali, marking a historic milestone for the industry.
Unprecedented Consumer Spending
Jewellery retailers nationwide reported exceptional footfall and buying activity during Dhanteras, considered one of the most auspicious days for purchasing gold, silver, and precious stones in Hindu tradition. The massive sales figure represents a significant surge compared to previous years, indicating renewed consumer confidence and robust economic sentiment.
Factors Driving the Gold Rush
Several key elements contributed to this remarkable sales performance:
- Stable gold prices throughout the festive season
- Improved economic conditions post-pandemic
- Wedding season demand coinciding with festivals
- Innovative jewellery designs attracting younger buyers
- Digital payments making high-value transactions easier
Regional Performance Highlights
Metropolitan cities like Delhi, Mumbai, and Chennai reported exceptional sales, while tier-2 and tier-3 cities showed remarkable growth in jewellery purchases. The southern states continued their traditional strong performance in gold buying, with Tamil Nadu and Kerala leading the charts.
Industry Outlook for Diwali
With Dhanteras setting such a strong precedent, jewellery retailers and industry analysts are optimistic about crossing the psychological barrier of ₹1 lakh crore in total sales by Diwali. This would represent one of the most successful festive seasons for the Indian jewellery sector in recent history.
The trend indicates not just recovering consumer sentiment but also a strong cultural attachment to precious metals as investment and celebration assets. As families prepare for Diwali celebrations, the sparkle of new jewellery additions continues to brighten both homes and the national economy.
