Uttarakhand records sales worth Rs 320 crore on Dhanteras

As the five-day Diwali festivities kicked off with Dhanteras, jewellery shop owners most of the day as the state recorded a total sale of Rs 300-320 core – including consumer goods, utensils, electronic devices and electrical appliances – much above the last year’s figure of Rs 250 crore for the same day.

However, the day which is largely marked by purchase of yellow and white metals (gold and silver) saw less buyers as compared to previous year. The sales in bullion market of Doon was less, mainly due to high rates. Although gold rates fell from Rs 31,000 (per 10 gm) to Rs 30,000, but previous year’s excessively low rates of gold (Rs 25,000) were a big draw. Giving review of bullion market, Bipin Berry, state president of Uttarakhand Jewellers’ Association, told TOI, “Doon recorded sales of Rs 30 crore on Dhanteras today. The sales in bullion market was more focused on the purchase of coins and to some extent gold-diamond jewellery also touched decent sales. The market wasn’t as vibrant as previous year due to high rates of gold and silver both.”

The sluggish bullion trade, however, drove consumers to kitchenware shops which made decent sales of over Rs 80 crore. “Purchasing utensils on Dhanteras would never go out of fashion, especially when it is fund crunch owing to month-end and sky-high rates of precious metals. Besides, it’s good to explore your culinary skills,” said Megha Rawat, 31, one of the buyers in Paltan bazaar.

According to experts, state’s markets could have seen higher sales, but the monetary constrains withheld service-class people from shopping to their heart’s content. “I think month-end has hit the market though overall trade was better than previous year when we had business of some Rs 250 crore. Buyers’ choices really differ when it is the beginning of the month. We believe several factors are ruling the minds of the buyers this festive season from patriotism to being Swadeshi,” said Anil Goyal, state president of Prantiya Vyaapar Udyog Mandal.

Interestingly, Doon city which has more than two dozen showrooms of cars and bikes recoded more sales of four-wheelers pushing the automobile business to around Rs 70 crore on the first day of the festivals. Around 70% sales were recorded in the two-wheelers segment, according to auto experts.

Electrical kitchen appliances, like microwave ovens, induction cookers, air-fryers, etc, recorded sales of Rs 40-45 crore. Experts also said online shopping also took away some of the sheen and kept the buyers away from the markets.