GJC Chairman Rajesh Rokde estimates 15–20% growth in gold business value compared with last year, with volumes expected to remain almost at the same level.
Key highlights
- ₹60,000 crore: Preliminary estimate of India’s total gold business on Dhanteras.
- 15–20% growth: Expected increase in business value compared with last year.
- Stable volumes: Gold business volumes are expected to remain almost at last year’s level.
- Strong customer response: Jewellery stores opened as early as 8:00 AM, with encouraging customer enthusiasm.
- Gold price movement: The Chairman cited gold prices of approximately ₹60,000 per 10 grams in 2023, ₹80,000 in 2024, ₹1,15,000–₹1,20,000 in 2025 and around ₹1,42,000 this year.
- Wedding season outlook: GJC expects further business opportunities following the festive season.
India’s gold business on Dhanteras is estimated at approximately ₹60,000 crore, according to the preliminary assessment shared by Shri Rajesh Rokde, Chairman, All India Gem & Jewellery Domestic Council (GJC). The assessment points to an expected growth of around 15–20% in value terms compared with last year, while business volumes are expected to remain almost at the same level.
Sharing his assessment of the festive business, Shri Rajesh Rokde highlighted the strong customer response across the country, the cultural significance of Dhanteras, the influence of gold prices and the positive outlook for the upcoming wedding season.
Shri Rajesh Rokde, Chairman, All India Gem & Jewellery Domestic Council (GJC), said:
The total gold business across India on the occasion of Dhanteras is estimated to be approximately ₹60,000 crore, according to our preliminary assessment. Compared to last year, the business is expected to register a growth of around 15–20% in value terms.
If we look at the business in terms of volume, it is expected to remain almost at the same level as last year, while in value terms, we are witnessing an increase of approximately 15%. Certainly, this is a very encouraging start for the jewellery industry.
This year, jewellery stores across the country opened as early as 8:00 AM on Dhanteras, and we witnessed tremendous enthusiasm among customers.
We had anticipated a good Dhanteras this year, as Dhanteras is considered one of the most auspicious occasions among the three-and-a-half auspicious muhurats in the Hindu calendar. There is a deep-rooted religious and cultural tradition of purchasing gold and other valuables on this day. It is also traditionally believed that purchases made on Dhanteras bring thirteenfold prosperity.
According to Hindu mythology, Lord Dhanvantari emerged from the Samudra Manthan carrying the Amrit Kalash on this auspicious day. Therefore, Dhanteras holds immense significance in our culture and traditions. This cultural and religious connection is one of the key reasons why people across the country enthusiastically participate in shopping on this occasion.
Another positive factor this year is that both Dhanteras and Diwali fall at the beginning of the month, with Dhanteras on November 6 and Diwali on November 8. By this time, most people have received their salaries and festive bonuses. This has resulted in healthy cash flow in the market, encouraging consumers to shop enthusiastically.
Another positive factor for the gold market is that gold prices have been relatively lower over the past four to six months, which has further increased consumer interest and purchasing sentiment.
Looking at gold prices over the past few years, gold was approximately ₹60,000 per 10 grams in 2023, which increased to around ₹80,000 in 2024. In 2025, it reached approximately ₹1,15,000–₹1,20,000 per 10 grams, while this year it is trading at around ₹1,42,000 per 10 grams.
This clearly reflects the strong returns that gold has delivered over the past few years as an investment asset. Silver has also witnessed significant appreciation.
We are optimistic that the coming days will bring excellent business opportunities for the jewellery industry, with the festive season being followed by a strong wedding season.
Overall, we are receiving very encouraging reports from all regions across India. Personally, I am delighted that after a considerable period, our jeweller fraternity has witnessed such positive business momentum.
I sincerely thank all our customers across the country, Indian consumers, and everyone who has continuously supported the Gems and Jewellery Industry for their tremendous response and trust.
The Customer is God, and it is their trust, confidence and love that will continue to take our jewellery industry to greater heights.
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