Making an intarsia design smaller?

I was just wondering if it was possible to make an intarsia design smaller. I’m going to intarsia this design on a sweater but I’m unsure if I want it to be quite that large:

The finished dimensions are:
49 stitches at the widest point is 12 inches
75 rows are 14.25 inches at the tallest point

And I was thinking of shrinking it about 2 inches in each direction.

You could copy it onto paper that has a smaller gauge. You can find it here.