Editor’s Note
India’s festive season has showcased remarkable economic resilience, with record-breaking sales in key sectors like automobiles, gold, and electronics following GST reforms. This surge highlights robust consumer confidence and strong domestic demand.
Economic activities in India have remained strong during this year’s festive season. Following the implementation of GST reforms, sales of automobiles, gold, and electronics have reached record levels. On Dhanteras, gold and silver sales saw an increase of approximately 25 percent, while the sales volume in the auto industry also showed robust growth.
The All India Gem and Jewellery Domestic Council (GJC) reported increased enthusiasm in gold and silver purchases. GJC Chairman Rajesh Rokade stated that festive sales could exceed ₹50,000 crore. Demand for gold coins and lightweight hallmarked jewellery has risen, while sales of silver coins and worship-related products have increased by 40 percent.
Purchasing in the auto industry also remained strong. Amit Kamat, Chief Commercial Officer of Tata Motors, said that deliveries for Dhanteras and Diwali this year will occur within two to three days according to auspicious timings, with expectations of delivering over 25,000 vehicles. Tarun Garg, Director of Hyundai Motor India, indicated that approximately 14,000 units are likely to be delivered this year, which is 20 percent higher than last year.
According to the Confederation of All India Traders (CAIT), heavy shopping was observed across India on Dhanteras. Total trade is estimated to have crossed ₹1 lakh crore. Gold and silver sales alone contributed over ₹60,000 crore, while increased demand for indigenous products led to transactions exceeding ₹10,000 crore in Delhi’s markets.
