News

Advanced Search

Indian Diamantaires Hope for Sales Boost From U.S. Same-Sex Couples

Jul 15, 2015 5:29 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
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.
Tags: Gems and Jewellery Export Promotion Council, LGBT, Rapaport News, Sanjay Kothari, supreme court, Times of India
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.