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Indian Diamantaires Hope for Sales Boost From U.S. Same-Sex Couples
Jul 15, 2015 5:29 AM
By Rapaport News
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RAPAPORT... Indian diamantaires see the recent U.S. legalization of same-sex marriages as providing a boost to sales in the world’s largest diamond market.
Industry experts cited by the Times of India estimate that same-sex marriages in the U.S. could increase India’s polished exports to the U.S. by $1.5 billion to $8 billion per year.
The U.S. Supreme Court struck down state-level bans on same-sex marriage in June. Following the ruling, significant numbers of lesbian, gay, bisexual and transgender couples in the U.S. have been purchasing diamond engagement and wedding jewelry, Sanjay Kothari, former chairman of India's Gems and Jewellery Export Promotion Council, told the newspaper. Kothari added that local diamantaires were hopeful that increased jewelry sales to LGBT consumers in the U.S. would help compensate for recent weakness in the global diamond market.
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Tags:
Gems and Jewellery Export Promotion Council, LGBT, Rapaport News, Sanjay Kothari, supreme court, Times of India
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