Diwali is India’s festival of lights – a season of joy, family gatherings and gift-giving. Each year, the celebration takes place sometime between mid-September and mid-November, linked to the lunisolar calendar and, in 2025, it will take place on October 21. In India, it is customary to exchange gifts among family, friends and business contacts during Diwali. For companies, however, this practice poses compliance risks, particularly when gifts are extended to Indian public officials. In this guest article, Sherbir Panag and Guneet Gudh of Panag & Babu explain why Diwali is an ideal moment for companies to review and reinforce gift-giving policies, ensuring that festivities do not inadvertently cross into conduct that could be construed as corruption. See “The NFRA Circular and Auditors’ Duty to Report Fraud in India” (Aug. 14, 2024).