Less demand for corporate gifts this Diwali

UPDATED ON OCT 26, 2008 10:40 PM IST
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With Diwali just round the corner, companies caught up in the global financial crisis have cut down on their demand for corporate gifts. Every year during this festive season, the demand for corporate gifts is on an all time high. 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 usually presented to employees on Diwali

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