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Gay sex ruling to free India’s ‘pink economy’
MUMBAI, Sept 12, 2018 (BSS/AFP) – From LGBT nightclubs to “gaycations” and
more, a court ruling legalising homosexuality in India is set to unlock one
of the world’s largest “pink economies”, experts say.
The Supreme Court’s historic decision last week to scrap a colonial-era
ban on gay sex sparked joy as activists held rainbow-coloured celebrations
across the country.
Now the community can expect to see businesses lining up to offer a range
of tailored products, in fashion, health and other industries, providing a
massive boost to Asia’s third-biggest economy.
“It can bring billions of dollars to the Indian economy if they can
activate the spending of gay people in India,” Keshav Suri, a hotelier and
petitioner in the landmark case, told AFP.
“There is business to be done, real estate to be bought and sold, holidays
and all the services that go with that.
“The value of the pink economy and the social aspects of the LGBT
community are too large now for us to ignore,” added Suri, executive director
of the Lalit hotel group.
India is home to more than 55 million LGBT adults, according to Out Now
Consulting, a marketing agency that helps businesses target gay and lesbian
consumers.
Their nominal income is around $113 billion annually, the firm estimates.
LGBT couples have fewer children than other groups and higher-than-average
salaries, meaning plenty of disposable cash.
“They represent one of the world’s largest LGBT markets,” Ian Johnson, the
founder of the Australia-based Out Now Consulting, told AFP.
He predicts that drinks brands and travel companies will be the first to
target the LGBT community following the scrapping of Section 377, which was
introduced 157 years ago.
LGBT bars, clubs and cafes will provide new employment and boost sales in
the food and alcohol industries while people will be able to attend holidays
designed specifically for the gay market without fear of legal reprisal.
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Nakshatra Bagwe, a Mumbai-based entrepreneur, runs The BackPack Travels, a
company specialising in organising trips for LGBT tourists.
He says it has been profitable since it was set up in October 2016 but he
expects to see an increase in revenue following the law change.
“With legality and freedom on our side businesses will invest in the
community and opportunities will increase in the coming years,” he told AFP.
– Legal and free –
Inder Vhatwar, another businessman based in India’s financial capital,
also hopes to profit from the ruling by judges who said members of the gay
community deserve an apology for the treatment they have suffered.
Shortly after gay sex was briefly decriminalised before by the Delhi High
Court in 2009, Vhatwar opened a store called D’Kloset in Mumbai’s trendy
neighbourhood of Bandra, where several Bollywood stars live.
He sold glitzy clothes, handbags and party masks but after the ban was
reinstated in 2013 Vhatwar was evicted by his landlord.
“I faced a lot of challenges due to Section 377 and had to shut down but
with this recent judgement I am planning to start the store again,” the 37-
year-old told AFP.
Gay sex has long been a taboo subject for many in socially conservative
India, with religious groups in particular fiercely opposing any
liberalisation of sexual morality.
The World Bank said in a 2014 report that homophobic attitudes and a
reluctance to hire LGBT people hampered India’s economic growth by up to 1.7
percent annually.
Research shows that LGBT-friendly policies in the workplace, such as
equality training and non-discriminatory hiring practices, can boost
profitability.
Activists hope the court ruling will help shift attitudes and boost the
LGBT community’s economic engagement as the commercial benefits are realised.
“The LGBT community is definitely an untapped market. The business
potential is huge and set to grow,” Parmesh Shahani, who heads up the
cultural arm of India’s Godrej conglomerate, told AFP.
“The verdict will catalyse change and more companies will invest in
products and services catering to the community. I hope the judgment creates
more jobs and companies vie for LGBTQ talent,” he added.
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