The new trends reshaping India's art market

The fourth edition of ART MUMBAI returns to the Mahalaxmi Racecourse bringing together 94 exhibitors, including 73 Indian and 21 international galleries. With its most expansive international participation yet, the fair reflects Mumbai’s growing significance on the global art map and the rising interest in South Asian art and artists. This year’s edition, themed ‘Where Collections Take Shape’ offers a glimpse into the evolving landscape of art collecting in India. We speak to artists, collectors, gallerists and industry voices about the shifts shaping the Indian art world — from the growing international recognition of Indian artists and the emergence of a younger generation of collectors to the role of social media in art discovery, the rise of community-led initiatives and the need for greater government support to strengthen the market.

What is happening in Indian art outside the traditional gallery ecosystem that you think deserves more attention?

Indu Anthony, multidisciplinary artist: Community-based art initiatives like Namma Katte etc. deserve greater attention for democratising art beyond the traditional gallery system. By making artistic expression more accessible and participatory, they challenge established hierarchies and create space for diverse voices, fostering a more inclusive art ecosystem.


What do you think the current Indian art market is getting right — and what is it still missing?

Dinesh Vazirani, Co-founder, Art Mumbai: I think what the art market is getting right is it's building strong collectors around the world, both Indian and non-Indian and very strong institutions with the advent of museums coming up, private museums, public museums and public-private partnerships. I think there's an ecosystem that's being developed which is fundamentally strong and will last many many decades into the future and I think that in itself is the underpinning of the art market and the growth of the art market. What I think it might need a little more of and what is missing is more involvement of the government and I think relaxation of customs duty, more kind of admin things which affect the art market.

GST has been reduced to 5%, which is encouraging. However, further government support is needed, including tax incentives for donating artworks to museums and the removal of customs duties on Indian goods. Greater government involvement, alongside stronger institutions, could significantly strengthen the art market.

What is changing most significantly about the way a younger generation in India discovers, understands and buys art?

Siddharth Somaiya, Patron and Educationist: I think the younger generation is discovering incredible artists through social media, and that’s where it begins. You see that curiosity translates into action at Art Night Thursdays, with galleries reporting 800–900 visitors in a single day on certain Art Nights. Social media sparks discovery, gallery visits deepen engagement, and that curiosity can eventually lead to people understanding art, starting collections and, in time, becoming patrons of the arts. Over the last several months, I’ve met so many people who are keen to start collecting and learn more about an artist’s practice. It all begins with discovering what art can do to the mind and to the spaces we inhabit.

Has the Indian collector become more curious and discerning, or has the market simply become bigger?

Geetha Mehra, Sakhshi Art Gallery: There is growing interest in acquiring art across income groups. Online art platforms have made art more accessible, and social media is full of conversations about art. Art values are being discussed more openly, and artists and exhibitions have greater visibility. An increasing number of builders are adding value to their residential and commercial properties by incorporating artworks into lobbies or installing outdoor sculptures. This has widened the scope for art and helped grow interest in it. The growing number of galleries and auction houses, along with greater accessibility to art, further contributes to this growing interest.

Has the way Indian art is being seen internationally changed in the last few years? What feels genuinely different, rather than simply part of a global appetite for India?

Conor Macklin, Co-founder, Art Mumbai: What is very noticeable is that the perception of Indian Artist has changed. The wider Western public is very interested in India and what it has achieved and one of the best ways to see and understand this is through culture. In the past maybe there’s been a focus on the antiquities on miniatures. Now people are looking at living artists or modern artists. If this is a result of the power and might of the India economy India and the flex into promoting the numerous exhibitions and Museum shows around the world, or a genuine western interest in the region, it remains to be seen.