As Dhanteras arrived, a sluggish market turned vibrant by evening, with buyers flocking to major markets across Delhi and other cities. Despite inflation concerns, businesses across India anticipate record sales, reflecting a renewed consumer interest in locally-made products. This year’s Dhanteras witnessed a strong ‘Vocal for Local’ trend, with Chinese goods noticeably absent from shelves, as shoppers prioritized Indian-made gold, silver, utensils, idols, toys, and home decor items.

Record-Breaking Sales Expected Across India

According to the Confederation of All India Traders (CAIT), Dhanteras sales are projected to reach nearly INR 60,000 crore, with a significant shift toward local products. CAIT’s National Secretary, Praveen Khandelwal, highlighted that Diwali markets nationwide showed a clear preference for Indian goods, leading to a steep reduction in Chinese imports for festive items. Estimates suggest that the decline in sales of Chinese products could cost China around INR 1.25 lakh crore.

Gold and Silver Shine Bright

CAIT reported impressive sales in gold and silver on Dhanteras, with nationwide purchases reaching approximately INR 20,000 crore for gold and INR 2,500 crore for silver. Pankaj Arora, National President of the All India Jewellers and Goldsmith Federation (AIJGF), emphasized the overwhelming response, with an estimated 25 tons of gold ornaments sold across India through registered jewelers. Over four lakh small and large jewelers participated, while sales of silver reached 250 tons, underscoring a robust demand for precious metals despite economic challenges.

Delhi Markets Witness a Festive Boom

Delhi’s retail hubs came alive on Dhanteras, as shopping areas like Chandni Chowk, Dariba Kalan, Sadar Bazaar, Kamla Nagar, and Lajpat Nagar saw a heavy influx of customers. Other popular markets, including Ashok Vihar, Rohini, Rajouri Garden, Dwarka, and Greater Kailash, drew large crowds eager to celebrate the auspicious occasion by purchasing traditional items. The festive atmosphere in these areas underscored Dhanteras as a celebration not only of prosperity but of the unique cultural fabric of local businesses in the capital.

Brass Utensils See High Demand

Tradition played a central role in sales of brass utensils on Dhanteras, with shoppers flocking to buy these items, considered auspicious as an offering to Lord Dhanvantari. Brass, believed to be a favorite of the deity, saw increased demand from households, catering services, local confectioners, contract-based chefs, and the hospitality industry, which views Dhanteras as an ideal time to stock up on utensils and kitchen essentials.

A Festive Shift Towards Self-Reliance

Dhanteras 2024 has marked a clear shift in consumer mindset as people embraced the ‘Vocal for Local’ movement, choosing Indian products over foreign alternatives. This trend hints at a future where Indian markets are more self-reliant, celebrating local craftsmanship and benefiting domestic industries. As consumers continue to back local products, festive occasions like Dhanteras could lead the way in bolstering the Indian economy and reducing dependency on imports, especially from China.