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Indian Art Market - Witnesses Unprecedented Growth In 2024

Indian Art Market - Witnesses Unprecedented Growth In 2024

By: IBEF

|

Sun Sep 29 2024

The Indian art market is experiencing exceptional growth, marked by a notable 19% increase from 2023 levels. This surge is driven by India’s robust economic performance and rising disposable incomes, positioning art as a coveted investment asset and drawing a new wave of collectors. While paintings remain the most in-demand, sculptures are steadily gaining popularity, reflecting the evolving preferences of art enthusiasts. Fueling this renaissance are the strategic marketing efforts of auction houses and the expanding reach of online platforms, which have driven the average price per lot up by an impressive 124%. With Indian artists receiving greater global recognition and art emerging as a reliable hedge against inflation, the market’s momentum shows no signs of slowing.

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