Indian diamond tycoon gives away hundreds of cars, apartments to employees as Diwali gift

Amid all the job cuts across the world, here comes an announcement that will help your spirit stay afloat. A businessman in India is giving away hundreds of cars and flats to his employees as a Diwali gift.

Diamond merchant Savji Dholakia, who runs Hare Krishna Exports in Gujarat, is gifting 1,260 cars, 400 apartments, and some jewelry to his employees. The firm exports diamonds to about 75 countries worldwide.

He is spending as much as Rs 500 million ($7.5 million) on these gifts, which will be given to an unknown number of the firm’s total workforce of 5,500 people.

“Our aim is that each employee must have his own home and car in the next five years. So we have decided to gift cars, homes and jewelry to employees," Dholakia said. "We are arranging for houses for those who already own cars, while those who don’t have a four-wheeler will get one,” he added.

This isn’t the first time Dholakia has been so generous on his employees. He has been giving expensive gifts to his employees since 2012. In 2014, he gave away 491 cars and 207 flats.

Diwali holds as much significance in India as Christmas does in Western countries. People exchange gifts, distribute sweets, light up crackers, and go big on shopping.