NRI focus on India
art
Indian art widens strokes, makes
a big splash abroad
KOLKATA, FEBRUARY 20, 2006
ASHOKE NAG
TIMES NEWS NETWORK[
The canvas is getting wider for Indian contemporary art exhibits
abroad. And, the numbers are translating both in terms of the
spread of shows and revenues clocked. About four years ago, we
saw just 2-3 shows internationally. However, of late such events
have grown to 10-15. And, on an average, galleries are generating
sales of about $100,000 on the lower side and $500,000-700,000
from a high-end artist’s show.
“Going by the current scenario, around 6-7 galleries have
tied up with outfits and galleries abroad to stage shows. The
pace has really picked up in the last 1-2 years. Earlier, only
about a couple of Indian galleries were present abroad. The shows
are unfolding now mainly in London and New York. Some events are
also getting unveiled in cities like Singapore, Paris and Munich,”
sources told ET.
The growth in shows overseas has been fuelled by the increasing
interest of mainstream foreign buyers and collectors in Indian
art. This development backs up the strong NRI focus on this art
genre. International galleries and art outfits are also keen on
tying up with Indian galleries to stage such shows.
Among Indian art houses which have carved a niche for themselves
abroad are Art Alive, Saffronart, Bodhi Art and Guild. The prominent
shows which have crystallised overseas in recent times include
solo events revolving around SH Raza, FN Souza, MF Husain, Manu
Parekh, T Vaikuntam, TV Santosh and Paresh Maity.
In step with NRIs, who form the bulk of the buying population,
the mainstream audience are also triggering a fair share acquisitions.
Foreigners are lapping up 30-40% of the sales volumes. Though
the number of foreign collectors may be limited compared to NRIs,
a few of them are picking up a tranche of high-value paintings
which pushes up the total sum of purchases.
“Overseas collectors prefer paintings that reflect an Indian
identity, but at the same time have a contemporary look and appeal,”
the sources said. “One hasn’t come across too many group
shows. Given the audience response and the overall success of
the exhibits, one expects more players to enter foreign shores
in the near future,” they said/
