The festive cheer is expected to get louder for Indian retailers and businesses in India as consumers are in no mood to hold back from splurging. The Confederation of All India Traders (CAIT) expects a business of Rs 40,000 crore this Dhanteras on the back of positive consumer sentiment.
In 2022, Dhanteras is being celebrated on October 22 and October 23 across the country. Hindu believers consider Dhanteras an extremely auspicious day for making new purchases, especially of gold or silver articles and new utensils. On this day, buying some item made of precious metals is believed to bring good luck to buyers. In the present context, Dhanteras is known to give a boost to consumer sentiment as most people tend to make new purchases on this day. Items made of gold, silver, and other metals, especially kitchenware are sold heavily. The day also sees heavy purchases of appliances and automobiles.
This year Dhanteras is spread over the weekend, with Mahurat from 2pm on Saturday till 6 pm on Sunday.
CAIT national president BC Bhartia told PTI that over Rs 40,000 crore of businesses is expected to be done on the two days of the festival, which precedes Diwali.
All India Jewellers and Goldsmith Federation national president Pankaj Arora told PTI that jewellers across the country are excited about prospects of getting a boost to their business during Dhanteras on Saturday and Sunday, for which industry has made elaborate preparations.
The industry is also witnessing an increased demand for artificial jewellery, while sales of gold, silver coins and idols are also expected to get a boost, the report added.
This year, the Dhanteras puja muhurat will be observed between 07:00 pm and 08:17 pm on October 22, and the festival will continue into October 23. Dhanatrayodashi is the worship of Dhanvantari, who is considered the God of Ayurveda. According to the Hindu mythology, Goddess Lakshmi emerged from the ocean of milk during Samundra Manthan, holding a pot of gold, symbolising wealth. People buy gold on this day to honour her
