Once inside the Red Fort, your first sight will be the Chatta Chowk, or Covered Bazaar, with its souvenir shops. Here you will find the typical Indian souvenirs; fabrics, lamps, sculptures, and so on. I guess you can find the same items for less in the shops outside the Fort. But if you do not have much time in Delhi, this may be a good place to buy. As always in India, you have to bargain.