One stop destination for art in India Today, Indian art is greatly appreciated both internationally and within the country, annually growing at 30-35%, the Indian art market is currently worth Rs 1500 crores. The Indian art market has gon
the global art scene and this fair is a major step. I can imagine this to be major fair in Asia competing alongside London, Miami and Basel in the next 5-10 years. The sales results of the fair seemed very impressive by comparison to other fairs in their first year.”
India Art Summit - Backgrounder
The art fraternity in India has for long felt a gap and the need for a collaborative industry platform in the country owing to the phenomenal growth and global interest in Indian art. While the art fraternity the world over gets numerous opportunities to interact and collaborate through various art fairs, biennales & expos, there was no such platform in India. Therefore the time was right for India to offer a suitable platform for art. The initiative has received invaluable recognition and endorsement from the Ministry of Culture, Government of India and Sotheby’s.
The Summit hopes to achieve the dual purpose of, on one hand, serving as a window for International collectors to get a single access point to Indian art and, on the other, exposing the Indian collectors to a range of global Art that will be showcased at the fair in the coming years. More than just a place for buying and selling art, this initiative will enable diverse stakeholders from India and around the world to come together and discuss the creative and commercial aspects of Indian art.
Today, Indian art is greatly appreciated both internationally and within the country, annually growing at 30-35%, the Indian art market is currently worth Rs 1500 crores. The Indian art market has gone up by 485 percent in the last decade making it the fourth most buoyant art market in the world. The total auction market size of Indian art has changed from US $5 million in 2003 - just five years back - to nearly US $150 million this year.