India Inc. Embracing the LGBTQ+ Cause. And How

Queer rights isn’t a recent phenomenon. The global queer movement dates back a few centuries, all the way toward the end of the 1800s, when Europe witnessed people rise up for sexual freedom. But it was further back in 1791 that the French Revolution decriminalised homosexuality—in a sense, marking for the first time a step toward LGBTQ+ emancipation.

The origin of Pride Month as we know it today traces to the Stonewall riots in the US, wherein on June 28, 1969, an outburst broke out among large masses from the LGBTQ+ community who were revolting against police brutalities. In India, it was in the early 1990s, at a time when the economy was opening up—a process of liberalisation—that LGBTQ+ rights started getting discussed and recognised.

Exclusion is Expensive

The tenet of economic independence drives rights movements worldwide. The same applies to an argument about LGBTQ+ inclusion. Unequal treatment of LGBTQ+ people causes economic harm, leading to lower economic output. On the other hand, inclusive policies can boost productivity, and, as research indicates, bring up a nation’s GDP.

There are behavioural issues and patterns, a social phenomenon of biases, microaggressions, and a lack of awareness that prevent LGBTQ+ people from expressing themselves fully.

A 2014 World Bank report on the economic cost of exclusion finds a correlation between exclusion and lower productivity—a result of discrimination in matters of employment. The report highlights that an economy of India’s size could lose USD 32 billion per year (~1.7% of the country’s GDP) over exclusion of LGBTIQ+ people. The study also found that the gender wage gap in India was large, particularly high for gay people at 11%.

The real challenge stems from ‘discrimination’ manifested in reduced productivity and economic underperformance. There are behavioural issues and patterns, a social phenomenon of biases, microaggressions, and a lack of awareness, among others, that prevent LGBTQ+ people from expressing themselves fully.

Social change, however, is evolutionary. As with everything, change is the only constant; societies cannot live without adapting to it. There has to be greater acceptance and awareness—the aspect of ‘allyship’ for LGBTQ+ persons is critical. Gender observer Tamara Zlobina aptly puts it: “You either change or go extinct like dinosaurs”.

Unequal treatment of LGBTQ+ people causes economic harm, leading to lower economic output.

The Supreme Court of India decriminalised homosexuality in 2018. It also brought about the Transgender Persons Protection of Rights Act in 2019. Allyship in the Indian context is intended to be more than just voicing support. It is meant to deepen equality and rights and foster action that challenges discrimination.

Engender Excellence

Research suggests that for Fortune 500 companies, sexual and gender diversity in the workforce attract top talent. A study by the London School of Economics found that companies with friendly LGBTQ+ policies are more profitable and have higher stock market valuation, making a business case for robust LGBTQ+ inclusion.

The private sector in India has traditionally played a crucial role in advancing social and economic inclusion, particularly in matters of talent acquisition and skill development. Over the last decade, there has been a concerted effort to bring about diversity, representation, and participation across workstreams. As per the Corporate Equality Index (2021), 767 companies achieved top scores for LGBTQ+ policies, despite it being a tough year for businesses.

The representation of minorities—sexual minorities—cuts across the SDG themes of poverty, health, education, gender equality, violence, social and political inclusion, access to justice, and non-discriminatory laws.

Companies like Accenture and JPMorgan have well-designed LGBTQ+ inclusion policies. While Accenture has a strategic external partnership for the recruitment of LGBTQ+ candidates, it continuously leverages job fairs and employee referrals to recruit candidates. JPMorgan has launched a transgender internship program for 20 weeks, supported by its Office of LGBTQ+ Affairs. The company has a PRIDE business resource group with allies and members from the LGBTQ+ community.

LGBTQ+ diversity in senior management and the boardroom is finding footing at India Inc. While companies pivot toward improved gender representation, efforts to create an inclusive workplace must embed a sense of ‘belongingness’ into the cultural ethos—an area that Indian companies should work fervently to achieve.

In fact, a diverse workforce that ensures representation results in improved access and inclusion policies, which are critical to achieving the UN Sustainable Development Goals (SDGs). The global clean energy transition is predicated on addressing the SDGs. Although not stated explicitly as a Goal, the representation of minorities—sexual minorities—cuts across the SDG themes of poverty, health, education, gender equality, violence, social and political inclusion, access to justice, and non-discriminatory laws. So, can corporations foster excellence through stronger representation and robust LGBTQ+ policies?

Pride at ReNew

At ReNew, equal opportunity, anti-discrimination, and the promotion of diversity, equity, and inclusion (DEI), regardless of sexual orientation, are fundamental to our being. ReNew believes in building bridges that connect people, inculcating empathy, understanding, and shared knowledge, as well as underpinning a built-in courage to stand up for what is right—ensuring no one is left behind. Through awareness exercises, the company outlines the importance of being good allies, engaging to connect and support, and speaking up.

Pride Month holds a special significance for us as it celebrates people and their lived experiences—acts of struggle, defiance in the face of atrocities, and fortitude. Acceptance is an intergenerational exercise, imbibed not only by the one who is accepting but also by the one who is accepted. Let us understand that and fill our hearts with compassion, for queerness to truly flourish.