Dhateras business for traders: Traders’ body Confederation of All India Traders (CAIT) on Friday said more than Rs 50 crore business was expected across the country on Dhanteras festival which marked the beginning of the five-day Diwali celebrations including Choti Diwali or Narak Chaturdashi, Diwali and Govardhan Puja. The festive week will culminate with Bhai Dooj next week. In Delhi alone, Rs 5,000 crore trade was estimated on Dhanteras, CAIT said.
Dhanteras usually falls on the 13th day of the dark fortnight of the month of Ashwin (October or November). The word ‘Dhanteras’ is derived from the Sanskrit words Dhana, which means wealth, and Teras, which refers to the 13th day.
On this day, Lord Dhanvantari, who is considered the physician of the gods is worshipped. The main tradition of Dhanteras involves buying new utensils, gold, silver, or other precious metals as a symbol of good luck and prosperity. In addition to the material aspect of wealth, people worship Goddess Lakshmi, the goddess of wealth.
Also read: Chinese goods boycott to cost China Rs 1 lakh crore this festive season: CAIT
National President of All India Jewelers and Goldsmiths Federation, Pankaj Arora said that around Rs 30 crore trade of gold and silver happened for Dhanteras festival across the country. “While gold goods worth about Rs 27,000 crore were sold, the trade in silver was also worth about Rs 3,000 crore. Last year, this business on Dhanteras was approximately Rs 25 thousand crores. According to an estimate, today on Dhanteras, about 41 tonnes of gold and about 400 tonnes of silver jewellery and coins were sold in the country.”
Arora added that there are about 4 lakh small and large jewellers in the country out of which 1.85 lakh jewellers are registered with the Bureau of Indian Standards (BIS) and about 2.25 lakh are small jewellers in the areas where the government has not yet implemented BIS.
CAIT National President BC Bhartia and Secretary General Praveen Khandelwal said idols or pictures of Lord Ganesh, Goddess Lakshmi, and Lord Kuber are bought while vehicles, gold and silver ornaments, buying brooms, utensils, kitchen appliances, electronics etc., is considered auspicious.
Also read: More than Rs 3.5 lakh crore business expected this Diwali festive season: CAIT
On Thursday, CAIT had also estimated a Rs 1 lakh crore trade loss to China during the Diwali festive season in terms of non-import of festive and other goods by traders and importers.
According to CAIT, the core sectors where Chinese goods have been replaced by Indian goods are 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.
