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Visual arts industry in India: Painting the future

Visual arts industry in India: Painting the future

The report covers the landscape of visual arts industry in India and imperatives to unlock its full growth potential.


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Visual arts industry in India: Painting the future

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.

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KPMG (Registered) (a partnership firm with Registration No. BA- 62445) converted into KPMG Assurance and Consulting Services LLP (a Limited Liability partnership firm) with LLP Registration No. AAT-0367 with effect from July 23, 2020.

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