New Delhi, Oct 18 (NationPress) A significant surge in shopping was observed across India during this year's Dhanteras, with total trade anticipated to exceed Rs 1 lakh crore, representing one of the most robust festive seasons in recent memory, as reported by officials.

Gold and silver together contributed over Rs 60,000 crore in sales, while markets in Delhi alone saw transactions surpassing Rs 10,000 crore due to an increased demand for local products.

This festival, celebrated on the 13th day of the Krishna Paksha in the month of Kartik, holds exceptional importance for consumers. On this day, it is customary for people to buy gold, silver, utensils, vehicles, electronics, and idols of Lakshmi and Ganesha, among other auspicious items.

Purchasing on Dhanteras is believed to increase the value of items by thirteen times.

Praveen Khandelwal, the National General Secretary of the Confederation of All India Traders (CAIT) and a Member of Parliament from Chandni Chowk, noted that Dhanteras commemorates the emergence of Lord Dhanvantari with a pot of nectar during the churning of the ocean, symbolizing health and prosperity.

"The overall trade in gold, silver, and various Dhanteras-related goods across the nation is projected to be valued at Rs 1 lakh crore," Khandelwal stated.

Pankaj Arora, National President of CAIT and the All India Jewellers and Goldsmiths Federation (AIJGF), mentioned that given the substantial customer turnout over the last couple of days, the sales of gold and silver jewelry, coins, and related products across the country have surpassed Rs 60,000 crore.

"In Delhi, the trade exceeded Rs 10,000 crore, reflecting a remarkable 25 percent increase from the previous year," he remarked.

Last Diwali, gold prices hovered around Rs 80,000 per 10 grams, but this year they have escalated to over Rs 1,30,000, a rise of nearly 60 percent.

Similarly, silver prices have surged from Rs 98,000 per kilogram last year to over Rs 1,80,000, marking an approximate 55 percent increase.

Despite the high prices, both investors and regular buyers continue to purchase gold and silver as reliable assets, while lightweight jewelry remains popular among everyday consumers.

Khandelwal emphasized that buying new utensils made from copper, silver, or steel, along with other kitchen items, is deemed auspicious and signifies prosperity and purity.

He also pointed out that according to Vastu Shastra, acquiring a broom on Dhanteras is believed to dispel poverty and invite positive energy along with blessings from Goddess Lakshmi.

"In contemporary times, people are also investing in mobile phones, laptops, and other electronic devices as representations of progress and prosperity," he said.

This year's Dhanteras sales have set new records, with gold and silver items, kitchenware, and appliances valued at Rs 15,000 crore; electronic and electrical goods at Rs 10,000 crore; decorative items, lamps, and puja materials at Rs 3,000 crore; and dry fruits, sweets, clothing, and vehicles estimated at Rs 12,000 crore.

"In total, the nationwide trade is estimated at Rs 1 lakh crore," he affirmed.

Khandelwal attributed the robust market performance to lowered GST rates and the increasing acceptance of Prime Minister Narendra Modi's 'Vocal for Local' initiative.

He noted that consumers are progressively favoring Indian-made products, which is advantageous for small traders and manufacturers throughout the country.

"This festive season has witnessed remarkable enthusiasm not just in malls but also in local markets, bullion markets, utensil and electronics bazaars, and retail outlets," he shared, adding that "Dhanteras and Diwali have evolved into not only festivals of faith and prosperity but also symbols of economic vigor and a Swadeshi spirit, invigorating India's retail economy."