The increasing economic visibility and participation of LGBTQIA+ communities started being referred as Rainbow Economy. Sometimes it is also used as a synonym of Pink Economy that was coined in 1990s when business researchers started recognising the economic prospect in reaching out to the LGBTQIA+ people as potential consumers. ‘Out of the Closet and Into the Marketplace: The Birth of India’s Pink Economy’, the executive report of MSL group India highlighted the potential of LGBT community to become a distinct consumer segment. The decriminalisation of homosexuality in 2018 in India ensured inclusion in education, employment, and social recognition. United Nations Sustainable Development Goals (SDGs) play an important role in policy shifts and media practices. In this changing scenario, role of media in shaping youth perceptions of economic and social belonging remains underexplored. This qualitative study explores the changing content in Indian audiovisual media in the context of pink economy. The methodology combines a critical review of interdisciplinary literature on queer youth, and cultural economy, thematic content analysis of four media texts - Chandigarh Kare Aashiqui (2021), Taali (2023), Subh mangal Zyada Savdhan (2020), and Made in Heaven Season 1&2 (2023). Focused group discussions (FGDs) with young viewers further inform the analysis by examining audience reception and meaning-making processes. The study is theoretically grounded in queer theory and youth cultural studies to understand how marginalisation is constructed, negotiated, and challenged through media narratives. Findings indicate greater visibility of LGBTQIA+ characters result in challenging dominant norms and foster social acceptance among youth audiences. The study argues that media functions as a critical site for developing theoretical and social understanding of LGBTQIA+ people. Greater normalisation may bring change in social perception, but for real inclusion as enumerated in sustainable development goals, there is a long way to go.