Dhanteras Boost: Traders expect sales worth Rs 50,000 crore in two days as festive season gains steam

Traders across the country, especially those dealing in the said categories, have replenished their stocks to ensure plentiful supplies in anticipation of strong demand during the period.

Traders across the country typically make a host of preparations in anticipation of higher footfall during the festive season. | Image: Reuters

With Diwali preparations in full swing across the country, experts estimate a pickup in trade during the festive season starting with Dhanteras on November 10, 2023. The festival of Dhanteras is typically observed as a significant day for traders across the length and breadth of the country. This year as well, traders in the national capital have made a host of preparations to cater to a busy Dhanteras amid expectations of higher footfall.

Sales worth Rs 50,000 crore are expected to take place all over the country on November 9 and November 10, said Confederation of All India Traders (CAIT) National President BC Bhartia and Secretary General Praveen Khandelwal.“Everywhere, there is a ‘vocal for local’ theme at play as the consumers are demanding only Made in India goods,” they said, referring to the government’s push for promoting locally-produced goods as part of its broader ‘Aatma Nirbhar Bharat’ (self-reliant India) drive.

China is estimated to take a hit of business worth about Rs 1 lakh crore during this period, said the officials from industry body CAIT.

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"The Dhanteras festival sees higher domestic demand for a vast variety of products.“It is considered an auspicious day to buy items, which is reflected in tremendous sales of products such as gold and silver jewellery, utensils, vehicles, apparel, electronics, electrical goods and equipment, tools, mobiles, account books, and furniture every year on this day,” said Bhartia and Khandelwal.

"The purchase of brooms on Dhanteras is considered very auspicious,” they added. Traders across the country, especially those dealing in the said categories, have replenished their stocks to ensure plentiful supplies in anticipation of strong demand during the period.

With great enthusiasm, jewellery traders have made elaborate preparations for both the days, said Pankaj Arora, National President of All India Jewellers and Goldsmith Federation (AIJGF).

“There is an abundant stock of several items including new design jewellery and jewellery of gold, silver, diamonds etc. Besides, huge demand for artificial jewellery is also visible in the markets this year, while gold, silver coins, notes and idols are also likely to be bought in large quantities,” he said.

Historically, a number of neighborhoods in the national capital see a visibly higher degree of footfalls during the Dhanteras festival. And this year is widely expected to be no different. CAIT’s Khandelwal pointed out that areas like Chandni Chowk, Dariba Kalan, Maliwada, Sadar Bazar, Kamla Nagar, Ashok Vihar, Model Town, Shalimar Bagh, Wazirpur, Pitampura, Rohini, Rajouri Garden, Janakpuri, Dwarka, South Extension, Greater Kailash, Green Park are likely to be hotspots for Dhanteras-related sales this year.

“Sales of goods are expected to grow in a big way in these markets. Additionally, markets like Yusuf Sarai, Lajpat Nagar, Preet Vihar, Shahdara and Laxmi Nagar also do huge business,” he said.

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