Art has been a part of my consciousness for as long as I can remember. I can recall with vivid clarity how my grandmother used to sit me down and explain the subtle nuances of a Ram Kinkar Baij work. My conversations with her would almost always be about the arts, whether it was Indian folklore, the classical arts or the Bengal school. One of my earliest memories is staring at this large but delicate painting by Hemen Mazumdar at our home. The sheer depth of the imagery would have me gazing at it for hours. So, when I decided to become an arts professional by establishing Seven Art gallery in Delhi in 2005, a large driver was creating an ecosystem that would let people experience the wonder of art. Every decision since then, from founding the Saath Saath Arts Foundation (2010) to joining hands with Peter Nagy to become the Managing Director of Nature Morte (2012), has been a step towards democratising art.

In the two decades since I have joined Nature Morte, my aim has been to keep contributing to the expansion of Indian art and make it global. Art is one of India's and South Asia’s biggest soft powers, especially because of the unparalleled diversity the region has to offer. India has finally started getting the space she deserves in the international world. Indian artists are creating art that highlights both their myriad experiences and enquiry into their rich history juxtaposed with the global and local environment around them. The stakeholders of the Indian art world - galleries and museums, auction houses and collectors - are playing a key role in elevating such artists internationally by becoming more cognisant of the need to establish Indian artists as global voices that need to be seen and heard. Most of the artists that Nature Morte has on its roster, for instance, are established names, and almost all of them have practices that are rooted in their personal experiences, but their art has a global resonance with themes ranging from like their environmental research to identity politics and technology.

It is this desire for global visibility that has catalysed the rise of the Indian art market over the last decade, particularly contemporary art. The auction market for South Asian contemporary art has gone up by 133.1% from 2016 to 2024¹! That there has been a growing interest in Indian artists from institutions and collectors abroad became evident with the exhibition, Imaginary Institution of India: Art 1975-1998, at the Barbican Centre, London, last year. Featuring 150 works by over 30 Indian artists, the show vindicated the demand for Indian art.

The Indian art market movement is closely linked to the Indian economy. With a GDP growth rate of over 7%, stock markets breaching their highs, and more billionaires and millionaires being added every year, the environment is fertile for investment in art. This is evident in The Hurun India Art List of 2024², which recorded staggering sales for the top 50 artists from the country at ₹301 crore - a 19% increase from 2023. Even the entry point for the top 10 artists rose from ₹1.99 crore in 2021 to ₹7.70 crore in 2024, close to a 300% increase. The 2024 Hurun India Art List featured artists across a wide age range, with 99-year-old Krishen Khanna achieving ₹18 crore in sales and 27-year-old Raghav Babbar securing ₹12 crore, showcasing the market's inclusivity and dynamism. The last two auctions saw records being broken for multiple artists - heralding a new dynamic for India in the global art market.

In recent years, global institutions have increasingly showcased artists of Indian origin. Bharti Kher became the first Indian artist commissioned for a year-long installation by New York’s Public Art Fund in Central Park, followed by solo exhibitions at Yorkshire Sculpture Park, Hayward Gallery, and Tate St Ives. Elsewhere, the Art Institute of Chicago presented Jitish Kallat’s Public Notice, while Asim Waqif exhibited at the Hayward Gallery, The Mattress Factory, and the Chicago Architecture Biennale. Reena Kallat’s work appeared in several major museums, and Thukral & Tagra exhibited at SCAD. More recently, we saw Ranjani Shettar at the Barbican and Arpita Singh at the Serpentine.

Philanthropy in the arts sector has been another major factor towards creating awareness, generating discourse and thereby increasing global visibility of Indian art. India is seeing the rise of private organisations and individuals contributing to the expansion of art infrastructure and general awareness. Apart from Mrs. Kiran Nadar, founder of KNMA, an important funder for art in the country, there are others that are now emerging to help further build the ecosystem. The RMZ Foundation from Bangalore has initiatives to bridge the gap between art and community which have gone a long way towards creating a more inclusive language of expression, thereby catalysing social change. Their collaboration with artist Vibha Galhotra to create an architectural sound sculpture, Future Fables, at Nirox Sculpture Park in South Africa is the most recent example. The JSW Foundation, led by Sangita Jindal, last year launched the Hampi Art Labs in Karnataka, which offers artists unique production facilities, a creatively invigorating environment and world-class galleries to display their residencies. Also, the Serendipity Arts Foundation facilitates pluralistic cultural expressions, through its annual multidisciplinary arts festival, alongside other projects, including institutional partnerships with artists and art organizations, educational initiatives, grants and outreach programmes across India. Mrs. Nita Ambani, recently entered the art domain by opening her museum NMACC. Built on the Kunsthalle Format and working with international institutions, she brings globally accredited shows to Indian audiences.

We established The Sculpture Park in Jaipur in 2017 with the same objective. Now in its fifth edition, The Sculpture Park brings together top Indian names, alongside international artists whose works are very rare to see in India. The fact that we have the exhibition in Jaipur (earlier in Nahargarh Fort, the latest edition has moved to Jaigarh fort), one of the most popular tourist spots in the country, is to go beyond gallery and museum spaces and enable chance encounters with art.

With all these factors cohesively coming together, the growth of the Indian art market is bound to only increase exponentially in the coming years. And while the future of contemporary Indian art looks brighter than ever, we still have a long way to go.

_{^{1 ArtTactic Global Art Market Outlook 2025 Report}}

_{^{2 The Hurun India Art List of 2024}}