Dhanteras: Rs 50 crore trade expected by traders, says CAIT

financialexpress.com:

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