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Gold and silver sales alone accounted for an astonishing Rs 60,000 crore of the total trade, registering a robust 25% increase from last year’s value
Gold prices have soared by approximately 60% year-on-year, crossing the Rs 1,30,000 per 10-gram mark. (Representational image/News18)
Indian consumers defied a massive surge in prices to spend an estimated Rs 1 lakh crore on Dhanteras this year, showcasing the festival’s undiminished cultural and economic significance. According to the Confederation of All India Traders (CAIT), this massive spending spree marks a significant festive boost, with strong consumer confidence overriding high-cost pressures.
The driving force behind this record expenditure was the traditional purchase of precious metals. Gold and silver sales alone accounted for an astonishing Rs 60,000 crore of the total trade, registering a robust 25% increase from last year’s value. This surge is particularly striking given the steep rise in bullion costs: gold prices have soared by approximately 60% year-on-year, crossing the Rs 1,30,000 per 10-gram mark, while silver prices have also jumped by roughly 55%.
CAIT attributed this resilient demand to the deep-rooted Indian belief in precious metals as the most secure form of investment and an auspicious purchase on Dhanteras, the day that marks the beginning of Diwali celebrations. While volumes may have seen a slight dip, the rise in value was substantial, as many consumers opted for strategic buying—favouring lightweight jewellery, gold coins, and bullion for investment purposes to fulfill the shagun (auspicious tradition).
Beyond bullion, the festive purchasing extended across various sectors, underlining a broad economic recovery. Other major contributors to the Rs 1 lakh crore total included utensils and kitchen appliances (estimated at Rs 15,000 crore), electronic and electrical goods (Rs 10,000 crore), and vehicles, textiles, and decorative items.
The festive spending also received a further boost from the popularity of the “Vocal for Local” campaign, with consumers showing a clear preference for Indian-made products, benefiting small traders and local manufacturers across the country.
Pathikrit Sen Gupta is a Senior Associate Editor with News18.com and likes to cut a long story short. He writes sporadically on Politics, Sports, Global Affairs, Space, Entertainment, And Food. He trawls X via …Read More
Pathikrit Sen Gupta is a Senior Associate Editor with News18.com and likes to cut a long story short. He writes sporadically on Politics, Sports, Global Affairs, Space, Entertainment, And Food. He trawls X via … Read More
October 18, 2025, 22:34 IST
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