Dhanteras Gold Business Across India Estimated at ₹60,000 Crore, GJC Sees 15–20% Value Growth

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Jewellery industry reports strong festive sentiment as shoppers return to showrooms on the auspicious occasion of Dhanteras.

NEW DELHI (India CSR): India’s gold business on Dhanteras is estimated at approximately Rs. 60,000 crore, according to a preliminary assessment by the All India Gem & Jewellery Domestic Council (GJC). The industry body expects the value of gold business to be 15–20% higher than last year, signalling a promising start to the festive season for jewellers across the country.

Rajesh Rokde, Chairman of GJC, said the estimate reflects strong consumer confidence, widespread festive buying and the continued cultural significance of Dhanteras for Indian households. While gold sales volumes are expected to remain broadly at the previous year’s level, the value of transactions has increased because of higher gold prices.

“The total gold business across India on the occasion of Dhanteras is estimated to be approximately Rs. 60,000 crore,” Rokde said, describing the response as a very encouraging start for the jewellery industry.

Festive Demand Rises

Jewellery stores across India opened as early as 8:00 AM on Dhanteras, with retailers reporting enthusiastic customer response and healthy footfall. The buying momentum was visible across markets as consumers visited showrooms to purchase gold jewellery, coins and other valuables on a day traditionally associated with prosperity and auspicious beginnings.

Dhanteras holds deep cultural and religious relevance in India. It is widely considered one of the most auspicious occasions in the Hindu calendar for buying gold, silver and household valuables. The day is linked with the belief that purchases made on Dhanteras bring prosperity, making it a key annual demand driver for the jewellery sector.

Rokde said the industry had anticipated a positive Dhanteras, given the enduring emotional and cultural connection between Indian consumers and gold. The festive response, he added, reflects the trust that customers continue to place in jewellery as both a personal purchase and a long-term asset.

Value Leads Growth

According to GJC’s preliminary assessment, the quantity of gold sold during Dhanteras is likely to remain almost unchanged from last year. However, the increased value of sales has resulted in an estimated growth of around 15–20% in rupee terms.

Rokde pointed to gold’s long-term price appreciation as an important contributor to consumer confidence. He noted that gold was priced at around Rs. 60,000 per 10 grams in 2023, rose to approximately Rs. 80,000 in 2024 and reached about Rs. 1.15 lakh to Rs. 1.20 lakh per 10 grams in 2025. This year, he said, gold is trading at around Rs. 1.42 lakh per 10 grams.

At the same time, the recent moderation in gold prices over the past four to six months has improved purchasing sentiment. Buyers appear to have viewed the festive period as an opportunity to make planned jewellery purchases before the wedding season gathers momentum.

Silver, too, has witnessed significant appreciation, further supporting overall sentiment in the gems and jewellery market.

Cash Flow Supports Buying

The calendar timing also supported festive consumption this year. With Dhanteras falling on November 6 and Diwali on November 8, many salaried consumers had already received their monthly salaries and festive bonuses. This improved liquidity in the market and encouraged households to spend on gold and jewellery purchases.

The combination of available cash flow, festive sentiment, cultural tradition and improved customer confidence created a positive environment for jewellers. GJC said it received encouraging reports from multiple regions across India, indicating broad-based demand rather than isolated market activity.

Wedding Season Ahead

The jewellery industry is now looking ahead to the upcoming wedding season, which traditionally follows Diwali and creates another major demand cycle for gold jewellery. Rokde said the sector remains optimistic about business opportunities in the coming weeks as families prepare for weddings, gifting and celebrations.

Thanking consumers for their continued confidence, Rokde said the industry’s growth is rooted in customer trust. “The Customer is God,” he said, adding that the confidence and support of Indian consumers will continue to help the jewellery industry move forward.