Dhanteras shines bright! Jewellery sales touch Rs 85,000 cr, set to cross Rs 1 lakh cr by Diwali – What’s driving the rally?

Dhanteras shines: India’s jewellery markets sparkled this Dhanteras, as robust festive demand pushed nationwide sales to an estimated Rs 85,000 crore over two days, according to the All India Gem and Jewellery Domestic Council (GJC).“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,” GJC Chairman Rajesh Rokde told PTI.“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,” Rokde added.Silver sales saw a remarkable surge this festive season, nearly doubling as consumers turned to more affordable options amid soaring gold prices. The extended two-day Dhanteras celebration, coinciding with the weekend, gave retailers an extra push, drawing strong footfalls and boosting overall sales. “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,” Rokde said, expressing optimism for the days ahead.Festive trade to cross Rs 5 lakh crore, Says CAITAdding to the glitter, the Confederation of All India Traders (CAIT) projected that total festive trade this season could surpass Rs 5 lakh crore, marking a record-breaking year for offline markets.CAIT secretary general and member of parliament Praveen Khandelwal said this year’s Diwali is shaping up to be a “Swadeshi celebration,” with strong demand for Indian-made goods and a boost from recent GST relaxations.“This year’s Diwali is expected to generate festive sales exceeding Rs 5 lakh crore, which will significantly boost liquidity flow in the economy, strengthen trade, and inject new enthusiasm into the consumer market,” Khandelwal added.Across India, markets are witnessing massive crowds, as shoppers return to the traditional “touch and feel” retail experience, leading to a noticeable dip in online sales. Top-selling categories include sweets, dry fruits, garments, textiles, electronics, consumer durables, automobiles, jewellery, gold, silver, gift items, and puja materials, among others.With strong consumer sentiment, booming silver demand, and a nationwide shift toward local products, this year’s Dhanteras and Diwali season has set the stage for one of India’s most vibrant festive shopping sprees in recent years.