Miniature no more

Indian art market might not have global scale yet, but a record ₹118-crore sale is a turning point

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HEN MF HUSAIN'S painting Gram Yatra sold for ₹118 crore at a Christie's New York auction on Wednesday, exhibiting an over four-fold jump on a previous sales record of ₹26.8 crore for the artist, the leap signified the upward trajectory Indian art has been on in recent years. Home to a host of galleries and auction houses, the country's art business is thriving. The younger generation is gravitating toward art, becoming serious buyers and investors. Artists are being valued more. The India Art Fair has celebrated 16 editions, reporting robust sales. Art galleries and auction houses like DAG, Saffronart, AstaGuru, and Pundole's are upbeat and expanding, not just to tier-II cities like Hyderabad and Chennai, but to global destinations like London and New York, capitalising on both physical and online sales.