Gold to Cars: India Sees ₹1 Lakh Crore Festive Shopping Boom

India has launched into its key festive shopping season with a record surge in consumer spending, driven by strong demand for big-ticket items like gold and automobiles, according to industry reports. Early data suggests the combined trade across sectors, including electronics and home appliances, has topped ₹1 lakh crore, signaling one of the strongest festive consumer environments in recent years.

Jewelery and Gold Sales Soar Past ₹60,000 Crore Mark

The traditional purchasing spree on Dhanteras saw gold and silver sales leap by over 25 percent in value compared to the previous year, as consumers appeared to anticipate further price rallies.

The All India Gem and Jewellery Domestic Council (GJC) reported exceptional momentum, predicting total festive sales could cross ₹50,000 crore for the sector alone.

"Despite high gold and silver prices, consumer sentiment is strong, driven by strategic buying and early wedding purchases," stated Rajesh Rokde, Chairman of the GJC. He noted that gold coins are leading the demand, while sales of silver items—especially coins and puja articles—have surged by nearly 40 percent.

Rokde also highlighted a shift in consumer behavior: "We’re also seeing a 15 percent increase in self-purchase trends, with younger consumers choosing lightweight, responsibly sourced jewellery to mark personal milestones.”

Auto Industry Posts Significant Delivery Boost

The automotive sector is also experiencing robust growth, with major manufacturers reporting significant delivery volumes aligned with auspicious muhurats (timings). Companies credit the festive spirit, buoyant market conditions, and the impact of GST 2.0 reforms for the positive momentum.

Tata Motors Passenger Vehicles Ltd expects to deliver over 25,000 vehicles during the multi-day Dhanteras and Diwali period. Amit Kamat, Chief Commercial Officer, described overall demand as "robust," adding that the GST 2.0 reform "has further provided positive momentum."

Hyundai Motor India Limited (HMIL) is witnessing similar trends. Tarun Garg, Whole-time Director and COO, reported strong customer demand, with expected deliveries around 14,000 units—approximately 20 percent higher than the previous year.

Overall Trade Exceeds ₹1 Lakh Crore

The Confederation of All India Traders (CAIT) estimated that the total trade witnessed across India on Dhanteras surpassed ₹1 lakh crore. Gold and silver accounted for more than ₹60,000 crore of this total, while markets in Delhi alone registered transactions exceeding ₹10,000 crore, partially driven by a surge in demand for indigenous products.

Analysts suggest the exceptional performance across multiple sectors, from jewelry to vehicles, underscores renewed consumer confidence and spending power heading into the heart of the festive season.