The report covers following features of the visual art industry in India :
- Contemporary art picking up: While currently dominated by modern art, the Indian art industry is likely to witness contemporary art sales picking up, supported by a diversifying buyer base.
- New generation of art buyers: While veteran collectors and institutions have fundamentally been driving the high-end of the Indian art industry, a new generation of art buyers, including entrepreneurs, company executives and professionals, such as doctors and lawyers, are driving the more affordable art segment.
- Increasing online art sales: The online platform has emerged as a new avenue for sales in the visual arts industry, with a number of players offering curated, branded online auctions across an assortment of art and collectibles.
- Involvement of corporates could take the industry a long way: Involvement of the private sector could help the industry in terms of raising funds, organising various art festivals and events, and promoting budding artists.
- Public support is essential for sustainable growth: Government support, particularly in terms of funding, infrastructure, creating awareness and rationalising the tax structure would build a solid ground for the industry to flourish.