I echo the sentiment on cash for gift (it's not crass!) and each day of celebration warrants a gift..also have some small bills for the money dances. I also would nix the saree idea and go with kurta you can wear again for the casual events. I'd suggest a Punjabi suit aka salwar kameez, one without too much bling as you will be able to wear it to work while in India. They're super comfortable and it's fun dressing like a local. Have fun and take lots of pictures!