This Dhanteras, gold makes way for cars, electronic goods
Consumers usually place orders earlier so that they receive deliveries on the auspicious day
This Dhanteras, markets in the state are witnessing a high demand for automobiles and electronic goods but spiralling inflation has insured the demand for gold has remained low.
Consumers usually place orders for articles earlier so that they receive deliveries on Dhanteras which is considered to be an auspicious day for purchasing new things.
Major automobile dealers in Jharkhand hope to register a growth by 20-25% this Diwali. As per an estimate, the state may witness a sale of 3,500 automobile units including hatchback, sedan, compact sedan and SUVs on the day of Dhanteras. “This Dhanteras is going to prove better than last year’s,” said Jharkhand MarutiSuzuki deputy manager (sales) Navneet Keshri, adding the company alone will sell 1,500-2,000 units on this day.
The demands for two-wheelers are also high as dealers of major companies claimed sale in the state could increase by 12-15% compared to last year’s Dhanteras. “As per the booking scenario, we can say the sale would be much better than the previous year,” said Gurukripa Hero, an authorized dealer of Hero MotoCorp.
Similarly, the electronic goods market is equally receiving a good response. “It may register a growth of 25% this year compared to last year. LED TVs, washing machines and refrigerators are in high demand,” said Sunil Suneja, proprietor of Suneja Sons.
Economists say easy loans, rising consumerism and advertisement effect are three major factors for rise in demand but add that there is no major economic growth. “Economic growth of the state is still at 7-8%. But easy loans and rising consumerism help the market register growth,” said economist Harishwar Dayal, adding Dhanteras markets witness growth as majority of the consumers postpone their buying for this day and companies also come up with many offers to woo the buyers during festive season.
Ranjan Mahto, who booked a 32-inch LED television, said, “I had an old model television which I wanted to change four months back. Then we decided to buy a LED television on Dhanteras.
However, state jewellers are not finding any major change in sale of jewellery items during this Dhanteras. “The marriage season is beginning in November. Therefore, we expect a good sale this year. But, chances of major growth in sale are negligible,” said Suman Paul of Paul Brothers Jewellers in Ranchi.
Ranchi Sarrafa Association secretary Ashish Arya said, “Earlier, buyers used to buy gold on Dhanteras for investment purpose but the concept has changed. Investors now have many sectors to invest in. Demand for gold is expected to be average this year.”