Around Rs 40,000 cr of business expected during 2-days of Dhanteras: CAIT

Mumbai: Around Rs 40,000 crore of business is expected to be generated on this Dhanteras, which is spread over the weekend, on the back of positive consumer sentiment, the Confederation of All India Traders (CAIT) said on Saturday.

Dhanteras, the first day of Diwali, is considered auspicious to buy new items, especially gold, silver jewellery, all kinds of utensils, kitchenware, vehicles, clothes and readymade garments, electronics, and electrical goods among others.

This year Dhanteras is spread over the weekend, with the muhurat beginning from 2 pm on Saturday till 6 pm on Sunday.

"Around Rs 40,000 crores of business" is expected on two days festival of Dhanteras, CAIT national president B C Bhartia said in a statement.

All India Jewellers and Goldsmith Federation national president Pankaj Arora said there is great enthusiasm among jewellery traders across the country regarding the sale of Dhanteras on Saturday and Sunday, for which the industry has made elaborate preparations.

There is also demand for artificial jewellery that is also visible in the markets this year, while gold, silver coins, notes and idols are also likely to be bought in large quantities on Dhanteras, he added.