A World Bank study estimates homophobia costs Indian economy a loss of ₹ 2000 billion ($30.8 billion ).
Author of the study and leading economist MV Lee Badgett used India as a case study.
Violence, job loss, discrimination, family rejection, harassment in schools, discrimination at workplaces, pressure to marry- all these forms of homophobia cause less education, lower earnings, more poverty, poor performance, depression, poorer health and shorter lives. This ultimately results in loss of economy.
Health disparities ( depression, suicide) cost 1500 billion and Labour related disparities (less education, poor performance, lower earnings) cost 500 billion.
LGBT individuals receive lower wages due to workplace and education discrimination, which reduces the governments tax income. A higher poverty rate due to low income leads to more government spending on social programs. High rates of depression, suicide results in higher government health care costs.
This is just the minimum cost as most of gay people in India are in closet and number of LGBT people is not exactly known.