'I propose to expand the scope of exemption for works of art..."

"Works of art and antiquities are exempt from customs duties when imported for exhibition in a public museum or national institution. In recent years, many organisations have joined the cause of promoting and popularizing both traditional and contemporary art. Some of them have been active in locating heritage works of Indian art and antiquities in foreign countries and bringing them back home.

"To encourage such initiatives, I propose to expand the scope of this exemption for works of art and antiquities to also apply to imports for exhibition or display, in private art galleries or similar premises that are open to the general public. Department of Culture will notify details of the scheme separately."

This is what the Union Finance Minister mentioned during his Budget 2011 speech. The provision is certainly a heart-warming development for Indian contemporary art collectors.
India's art fraternity gave a huge cheer and clear thumbs up to the Union budget for the financial year 2011-12, stating in one voice that it would boost the collector base in the country. The new provision has freed imported art & antiquities from the shackles of customs duties. The move, it is expected, will help bring more works of art from abroad to India.

Culture Minister of India, Kumari Selja, hailed the move. She mentioned in a publicly released statement that the concession proposed by the government would encourage 'more & more private, corporate and philanthropic organizations and individuals, to promote and popularize Indian art'.

Private parties welcomed the budget proposal that removed customs duties on artworks and antiquities to be brought in for exhibits by private promoters. Till this point, the exemption was available to public institutions. The move on part of the government will help 'internationalize art in India', art experts believe. It was a welcome gesture for the art fraternity that took the government's move as an indication of the fact that the officialdom was actually thinking of it.