Indian artists have been a presence in the global art market for the better part of the twentieth century. Raja Ravi Varma, Amrita Sher-Gil, Nandalal Bose, Jamini Roy, S.H. Raza, Tyed Mehta, F.N. Souza, and M.F. Husain, among several others have long been highly valued and sought after by Indian as well as foreign collectors, auction houses and investors. As has been the progression with most nations which have dominated global affairs, economic prosperity has been closely linked with the flourishing of arts and culture. Therefore, it is quite evident that with the burgeoning Indian economy and its wave of startups turning into unicorns, the world's fifth largest economy is all set to carve its own niche in the global art market.
A report by Indian Art Investor suggests that Indian art sales raked in 582.7 crore in the first half of FY 2022-23 and is predicted to eclipse the 880.9 crore from FY 2021-22 with ease. The increase in the number of new players and galleries has propelled this growth since galleries, art foundations and art platforms facilitate greater accessibility and drive the valuations of artworks. This provides benefits to the buyers as well as the artists. India Art Fair 2023 will showcase a host of new galleries which are a part of this trend such as 079 Stories Art Gallery, Chemould CoLab, Dhi Artspace, Gallery Dotwalk, Iram Art, and Treasure Art Gallery. Most of these galleries will introduce emerging artists with their repertoire of groundbreaking, and, at the same time, unnerving and empowering artworks.
Another sea change occurring in the art world is that the preference for the English medium-educated and well-spoken artist is no longer a prerequisite for most art galleries and platforms; instead, art is striving to achieve the ideal 'l'art pour l'art' (art for art's sake). IAF 2023 has prominently featured artists such as Bhuri Bai whose art speaks for itself and, in addition, it is extremely heartening for an art lover to note that the IAF Talks Programme 'Align and Disrupt' is raising fringe issues in a mainstream art event. Discussions around 'Ecology, Environment and Sustainability' and representation of marginalised voices are extremely commendable but the highlight of the programme is going to be the discussion in Hindi 'Zabaan Aur Pehchaan' about "language barriers in the path to creativity".
The demand for artworks by Indian and Indian-origin artists has been on the rise for the last few decades. In spite of the downturn caused by the pandemic, India Art Fair and Kochi-Muziris Biennale have propelled Indian artists, curators and collectors to the global stage. With the wave of startups, we have more Indian entrepreneurs who have perceived a gap in the market to promote homegrown artists as well as the potential of traditional artforms. As we leave behind the shadow cast on our generation by the pandemic, Indian and South Asian art and artists can exploit opportunities to disrupt the contemporary art world from its Eurocentric roots. South Asian artists will gain the spotlight as more Indian entrepreneurs and investors turn art collectors, connoisseurs and, above all, art lovers.