Ahmedabad, Oct 25 : With the festival of lights ''Diwali'' just round the corner, companies caught up in the global financial crisis have cut down on corporate gifts.
Every year during this festive season, the demand for corporate gifts is on an all time high, especially in Gujarat.
But with the US meltdown trickling down to India as well, many companies have resorted to cost cutting and are refraining from purchasing expensive gifts or token gifts usually presented to employees on Diwali.
Shopkeepers and traders say that their business has gone down by more than 30 per cent.