Despite high prices, consumers spent an estimated INR one lakh crore during the Dhanteras festival this year, with gold and silver alone accounting for sales estimated at more than INR 60,000 crore. Delhi’s bullion markets also recorded sales worth over INR 10,000 crore, marking a 25 per cent rise compared to last year.
Despite these high prices, buyers continued to invest in gold and silver, favouring lightweight jewellery. While gold prices surged 63 per cent to INR 1,32,000 per 10 grams of 24-carat (inclusive of taxes) in the national Capital, up from INR 81,400 last Dhanteras on October 29, 2024, silver prices have gone up by 40 per cent, yet demand held firm.
Interestingly, once a domain of neighbourhood jewellers, jewellery shopping in India is undergoing a glittering transformation. What was long anchored in trust, tradition, and touch is now increasingly just a click away.
India’s deep-rooted love affair with gold and diamonds is entering a bold new chapter, online. As digital platforms gain credibility through hallmark certifications and brand assurances, Indian consumers are warming up to the idea that buying fine jewellery doesn’t necessarily require a trip to the store.
According to a recent FICCI-Deloitte report, 73 per cent of consumers now begin their product discovery journey online, even for tactile categories like jewellery, while 53 per cent still lean on offline stores to seal the deal. But the tides are shifting fast. The Indian jewellery market, pegged at USD 91 billion in 2025, is expected to reach USD 146 billion by 2030. And e-commerce platforms are set to claim a growing slice.
Further, Dhanteras witnessed record-breaking sales across multiple sectors. Utensils, Kitchenware and Appliances saw sales crossing INR 15,000 crore, Electronic & Electrical Goods INR 10,000 crore, Decorative Items, Lamps & Puja Materials INR 3,000 crore, and Dry Fruits, Sweets, Fruits, Textiles, Vehicles & Miscellaneous Items, INR 12,000 crore-according to the Confederation of All India Traders (CAIT).
