Dhanteras: traders anticipate a trade of Rs 50 crore, according to CAIT
Typically, Dhanteras falls on the thirteenth day of the dark fortnight in the Ashwin month (October or November). The Sanskrit terms Dhana, which means wealth, and Teras, which denotes the thirteenth day, are combined to form the word “Dhanteras.”
Confederation of All India Traders (CAIT), a trade association, stated on Friday that more than Rs 50 crore in sales were anticipated nationwide on Dhanteras, which kicked off the five-day Diwali celebrations that include Govardhan Puja, Choti Diwali, or Narak Chaturdashi, and Diwali. Next week’s Bhai Dooj will mark the culmination of the joyous week. According to CAIT, Dhanteras trade was estimated to be worth Rs 5,000 crore in Delhi alone.
Typically, Dhanteras falls on the thirteenth day of the dark fortnight in the Ashwin month (October or November). The Sanskrit terms Dhana, which means wealth, and Teras, which denotes the thirteenth day, are combined to form the word “Dhanteras.”
Lord Dhanvantari, who is revered on this day, is regarded as the gods’ doctor. Purchasing new utensils, gold, silver, or other precious metals as a sign of good fortune and prosperity is the primary Dhanteras custom. People worship Goddess Lakshmi, the goddess of wealth, in addition to the material aspect of wealth.
According to Pankaj Arora, National President of the All-India Jewelers and Goldsmiths Federation, the country’s Dhanteras festival saw a trade in gold and silver worth about Rs 30 crore. “Silver trade was valued at approximately Rs 3,000 crore, in addition to the sale of gold goods valued at approximately Rs 27,000 crore. This Dhanteras business was worth about Rs 25 thousand crores the previous year. An estimated 400 tones of silver jewelry and coins, along with 41 tones of gold, were sold in the nation today on Dhanteras.
About 2.25 lakh small jewelers operate in areas where the government has not yet implemented the Bureau of Indian Standards (BIS), out of the approximately 4 lakh small and large jewelers in the nation, according to Arora. Of these, 1.85 lakh jewelers are registered with the BIS.
According to CAIT National President BC Bhartia and Secretary General Praveen Khandelwal, purchases of idols or pictures of Lord Ganesh, Goddess Lakshmi, and Lord Kuber are auspicious, as are purchases of cars, jewelry made of gold and silver, brooms, utensils, kitchen appliances, and electronics.
In addition, CAIT projected on Thursday that traders and importers would not have imported festive and other goods from China during the Diwali holiday, resulting in a trade loss of Rs 1 lakh crore.
The FMCG goods, consumer durables, toys, consumer electronics, electrical appliances, kitchen articles and accessories, gift items, personal consumables, confectionary items, home furnishing, tapestry, utensils, footwear, watches, furniture and fixtures, garments, fashion apparels, cloth, home decoration goods, Diwali pooja goods including clay diyas, wall hangings, etc. are the main sectors, according to CAIT, where Chinese goods have been replaced by Indian goods.
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