India Inc''s Spend To Go Up By 48-Pc To Rs 2,000 Cr On Diwali Gifts

During the current festive season, India Inc''s spend on gifts and greetings likely to go up by 48 per cent to Rs 2,000 crore compared with Rs 1,350 crore last year, according to industry body Assocham. It said the sectors that would take the lead and have budgeted their expenditure on gifts include pharmaceutical, IT and BPO, FMCG, real estate, tourism and aviation and retail. According to rough estimates of the chamber, pharmaceuticals, real estate, FMCG and civil aviation all put together are likely to distribute gifts worth Rs 160 crore as these sectors have been growing at double digit.