Diwali: In the festive season, the festival of Dhanteras was celebrated on Tuesday. During this period, a business of around Rs 60 thousand crore is expected. By Diwali this figure will easily cross Rs 1 lakh crore. During this period, apart from gold and silver, there has been huge purchase of utensils made of brass. According to an estimate, the sale of gold alone has crossed the figure of Rs 20,000 crore. The businessmen had already anticipated the increase in sales in this festive season, so they had made all their preparations. A report has claimed that due to falling demand for goods made in China, it is estimated to suffer a loss of about Rs 1.25 trillion.
Demand for Indian products due to Vocal for Local
According to the Confederation of All India Traders (CAIT), a business of about Rs 60 thousand crore is expected to be done on Dhanteras. CAT General Secretary and MP Praveen Khandelwal said that due to the Vocal for Local demand of PM Narendra Modi, there is a huge demand for Indian products in the market. He claimed that China is likely to suffer a loss of Rs 1.25 trillion this season due to the decline in sales of Chinese products.
Buy earthen lamps and decorative items from potters
CAT has also encouraged local women, potters and craftsmen to increase sales so that they too celebrate Diwali with prosperity. On Wednesday, October 30, Praveen Khandelwal along with other traders will buy earthen lamps and other decorative items from local potters in Chandni Chowk. A similar campaign will also be run by CAT related businessmen in other states. New items are purchased to invite prosperity along with the worship of Lord Ganesha, Goddess Lakshmi and Lord Kuber on Dhanteras. There has been massive purchasing of gold and silver jewellery, utensils, vehicles, electronics and household items.
25 tonnes of gold and 250 tonnes of silver were sold on Dhanteras.
According to Pankaj Arora of CAT, on Tuesday, October 29, the sale of gold was about Rs 20 thousand crores and the sale of silver was about Rs 2,500 crores. Pankaj Arora said that 25 tonnes of gold and 250 tonnes of silver were sold across the country. Apart from this, demand for old silver coins has also increased. Acharya Durgesh Tare associated with CAT said that Dhanteras, the day of appearance of Lord Dhanvantari, is a symbol of health and well-being. There is a tradition of buying brass utensils on this day. Additionally, Lord Yama, the god of death, is worshiped by lighting ‘Yama Deepak’ in the south direction.
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Dhanteras: Gold and silver took a big jump on Dhanteras, there was a sharp jump in the demand of jewelers.
