Why does Indian art market need a bigger thrust?

Though the future is seemingly bright, why everything is not right for with the current art scene of our country, or so feels India's high profile collector Kiran Nadar - the wife of HCL Technologies founder chairman Shiv Nadar!

A case in point is the surprisingly poor showing of Indian artworks at the recent auctions. SH Raza's monumental canvas 'Village With Church', as reported by Art Expo, didn't find any takers at the recent Sotheby's Modern & Contemporary South Asian Art auction in New York, whereas another portrait of a scientist painted by late MF Husain fetched about Rs 1.2 crore , way below the boom time bids.

Latest figures on state of the world art market China’s standing as the undisputed leader with an impressive 30% share. Despite all the hype, India lags behind its powerful neighbor with a small percentage. It’s not to doubt the vast potential of Indian art market, but apparent lack of will or infrastructure to capitalize on the same that’s clearly more worrying.

According to Nadar, Chinese art market is solidly and actively supported by the government there. There are at least hundred private museums in Shanghai and Beijing, whereas India only has a handful of private art collecting institutions such as the Devi Art Foundation that are buying works. The state institutions stultified by bureaucracy hardly buy any contemporary art.

There is not enough depth to collectors’ base, which makes it difficult to sustain and expand the market. Unless high net worth individuals (HNIs) are exposed to quality work by younger and upcoming artists, the scenario won’t change. To instill love for art among masses, Kiran Nadar has devoted herself to the cause of building up her museums. She believes art is the country's glorious heritage that must be cared for.

The art aficionado says that more people should be made to visit museums like abroad, where it's common to families going to museums together. The entry to KNMA is free in keeping with her philosophy.