Dhanteras Sparks Retail Boom: Joyous Surge in Festival Shopping

The Dhanteras festival marks the start of a vibrant shopping season, with significant growth in sales of gold, silver, and automobiles. Delhi's bustling markets are experiencing heavy customer traffic, fueled by special discounts. Anticipated nationwide retail trade during Dhanteras stands at a remarkable Rs 50,000 crore.

The five-day festival season got underway with Dhanteras, as markets across India witnessed a significant uptick in sales, with consumers eagerly purchasing gold, silver, and various goods. Auto dealers have also found reasons to celebrate, buoyed by increased customer footfall and robust responses to seasonal discounts.

In Delhi, popular shopping areas such as Chandni Chowk and Dariba Kalan buzzed with activity. The Confederation of All India Traders (CAIT) projects nationwide retail trade to reach an impressive Rs 50,000 crore during Dhanteras. Kumar Jain from the India Bullion and Jewellery Association noted a record-breaking surge in business, with Mumbai's Zaveri Bazar alone expecting sales around Rs 200 crore.

Despite rising gold prices, the demand remains robust. Ajay Agarwal of FADA emphasized that the auto industry, particularly in Delhi, experienced a substantial increase, with sales projected to be 1.5 times higher than in September. Compact SUVs and CNG vehicles are in high demand, though interest in electric vehicles lags due to subsidy issues.

(With inputs from agencies.)