Dhanteras shines: Jewellery sales hit Rs 85,000 cr, set to cross Rs 1 lakh cr by Diwali

New Delhi [India], October 19 (ANI): Jewellery markets across India witnessed a glittering Dhanteras this year, with robust demand driving sales to an estimated Rs 85,000 crore over two days, according to the All India Gem and Jewellery Domestic Council (GJC).

GJC Chairman Rajesh Rokde said, "Across India, approximately 50 to 60 tonnes of jewellery were sold over the two days of Dhanteras, amounting to nearly Rs 85k crore. The response has been fantastic, with all categories of jewellery witnessing strong demand. In terms of volume, sales were on par with last year, but in value terms, we've seen a remarkable growth of 35-40 per cent."

A major highlight this season has been the soaring popularity of silver, with sales nearly doubling as consumers shifted focus towards more affordable options amid rising gold prices.

The extended Dhanteras celebration--spread over two days and coinciding with the weekend--provided a perfect boost to footfalls and sales, further amplified by the Diwali and Bhai Dooj festivities that follow.

Looking ahead, GJC expects the five-day festive window to deliver exceptional results, with total jewellery sales projected to reach 100 to 120 tonnes and the overall market value estimated between Rs 1 lakh crore to Rs 1.35 lakh crore.

"Silver, in particular, has seen a surge--sales have nearly doubled as customers showed a clear preference for silver this season. With Dhanteras spanning two days and coinciding with a weekend, followed by Diwali and Bhau Beej (Bhai Dooj), the five-day festive window is expected to deliver exceptional results. We anticipate total sales reaching 100 to 120 tonnes, with a monetary value in the range of Rs 1 lakh crore to Rs 1.35 lakh crore," he added.

Going further, the Confederation of All India Traders (CAIT) on Sunday estimated that trade during the festive season is expected to surpass a record Rs 5 lakh crore, with offline markets witnessing a surge. (ANI)

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