New Delhi [India], October 19 (ANI): Jewellery markets across India experienced a glittering Dhanteras this year, with strong 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 notable trend this season has been the rising popularity of silver, with sales nearly doubling as consumers opted for more affordable alternatives amid rising gold prices.
The extended Dhanteras celebration, spread over two days and coinciding with the weekend, provided a significant boost to footfalls and sales, further amplified by the upcoming Diwali and Bhai Dooj festivities.
Looking ahead, the GJC expects the five-day festive window to deliver exceptional results, projecting total jewellery sales to reach 100 to 120 tonnes, with an overall market value estimated between Rs 1 lakh crore and Rs 1.35 lakh crore.
Rokde added, “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 Bhai Dooj, the five-day festive window is expected to deliver exceptional results.”
Additionally, the Confederation of All India Traders (CAIT) has estimated that overall trade during the festive season is likely to surpass a record Rs 5 lakh crore, driven by a surge in offline markets. (ANI)
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