According to the recently published State of the Indian Art Market Report FY23’ by Grant Thornton Bharat and Indian Art Investor, the Indian art industry achieved a total turnover of $144.3 million by selling 3,833 artworks in FY23

Over the past few decades, India has witnessed an exponential growth in its art market, brought about by the oeuvres of influential artists that played a pivotal role in reshaping the narrative of contemporary art within the nation. These visionary creators harnessed a unique fusion of tradition and innovation, reflecting India's rich cultural heritage and its ever-evolving spirit. Their works have not only captivated the discerning tastes of art connoisseurs but have also made a resounding impact on the global art stage, smashing auction records and earning international acclaim. The modern artists of India stand as formidable powerhouses, breathing new life into the canvas of Indian art, and solidifying their position as indispensable contributors to the modern artistic landscape.

It would not be an exaggeration to say that the Indian art market is going through an extraordinary period. According to the recently published "State of the Indian Art Market Report FY23" by Grant Thornton Bharat and Indian Art Investor, the Indian art industry achieved a total turnover of $144.3 million by selling 3,833 artworks in FY23. This is a significant increase compared to the FY 20-21 report, which reported a combined turnover of 880.9 crore, highlighting the sustained growth of the Indian art market. Additionally, the fact that this figure was only Rs 13 crore in 2000 underscores the remarkable progress made by the Indian art market over the past two decades.