India Art Fair, a leading platform for exhibiting modern and contemporary art from India and South Asia, marks a new high for the Indian art market, with record prices achieved at auction and artists from the region It will be held again as it attracts a lot of attention. It's part of a global conversation like never before. Ahead of the 15th edition of the show, which is expected to be one of the biggest with more than 100 exhibitors from around the world, FE spoke to fair director Jaya Asokan, who has been leading the show for the past three years. Edited excerpts from the interview:
Has the Indian art market recovered since the last fair?
The Indian art market is booming and continues to grow, led by the Indian Art Fair. As India establishes and maintains its position as the world's fifth largest economy, its passion for collecting and the art market is also booming. Growth has continued consistently year after year, and the market has grown over 250% over the past 10 years.
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The Indian art market maintained its strong position in FY2023, recording a huge revenue of $144.3 million through the sale of 3,833 works. According to the 2013 Indian Art Market Status Report by Grant Thornton Bharat and Indian Art Investor, sales in 2013 increased by 9% compared to the previous year, and the number of works sold increased by 6%, compared to the previous year. It was the best. A year of successful Indian art auctions.
India Art Fair directly contributes to this growth by providing national and international collectors with one of the only venues to discover a wide range of outstanding art and artists from the region. Apart from fairs, we also support collector weekends in cities like Delhi, Mumbai, Kolkata and Chennai to foster a collector base beyond these art centres.
2023 was the most successful year for Indian art at auction, with Indian artists such as Amrita Shergill, SH Raza, Raja Ravi Varma and VS Gaitonde achieving record prices. Sher Gill's 'Story Teller' has now become the most expensive oil painting on canvas sold for $618 million at Safronath's 'Evening Sale: Modern Art' in New Delhi. There is. Sales of contemporary art are also increasing, with a parallel increase in interest from global institutions in South Asian art. This, along with overall economic and market growth, is a healthy sign that our upward trajectory will continue for years to come.
Will the new design segment be a game changer this year?
We are excited to show how South Asia has become a global design destination. And this time our visitor and collector base will be able to experience the full power of our design talent. This year, we are introducing 7 new designs founded on the principle that there are really no boundaries between art and design, or any other creative discipline, and that creatives of all kinds have always been in dialogue. We are launching our first-ever design section consisting of studios. each other.
The studio showcases conceptual, deeply process-driven, limited-edition, hand-crafted and unique pieces that explore the dimensions of design objects beyond the purely functional. Returning exhibitor Vikram Goyal will exhibit brass works that explore various historical and aesthetic influences from the Silk Road. Rushad Shroff will bring furniture in collaboration with artist T. Venkanna. Karishma Swari & Chanakya School brings textiles made by skilled artisans. Studio Renn makes outstanding presentations, combining fine gemstones and concrete to create expressive jewelry.
How strong is the correlation between art and sustainability?
We continue to improve our sustainability standards every year. In order to improve the environmental footprint of our shows and share art in the most sustainable way possible, we recycle and reuse the fair's exhibition tents, floors and walls, use glass bottles and only use digital tickets. We are actively defining a long-term strategy for sustainable fairs. , we are printing our trade show signs on fabric and moving to using F&B biodegradable tableware. Our sustainability efforts have led to us being named among the top 3 in India for 'Sustainability Excellence' by Exhibition Showcase 2023.
Environment and sustainability will be the main theme of the trade fair. The theme for the third edition of the “The Future Is Art'' commission, one of the country's largest artist commissions led by India Art Fair and BMW India, focuses on moving forward with conscience. progressivism.” Winner Sashikant Tavdos will create an immersive installation that highlights the fragility of our ecological balance and our collective responsibility to secure the future of our planet and its people. The theme of this year's Digital Residency His Hub is 'The Power of Nature' and the digital artists in residence, Dhruvjani, Miles x Ameya and Sadna His Prasad, will all create interactive works that advocate forging a stronger relationship with our natural environment. Create digital works.
The fair's façade was designed by artist duo Thukral & Tagra for the 2024 edition and will be repurposed into limited-edition bags by Dalit-run Chamar Studio after the fair ends, ensuring a zero-waste lifetime for the large façade will be done. A rich collaboration between artists and design studios.
What are the takeaways for millennials who are actively considering digital art as a product or investment?
As a trade show, our eyes are always focused on the future and the next generation of collectors. There is a continued interest, especially among this audience of young millennials, in finding new ideas for art beyond traditional media, and this naturally includes digital and new media art. For this reason, in the studio section the artist is experimenting with his AI, AR and VR digital techniques.
Now in its third year, the Young Collectors Program is a parallel program to the fair and caters to the sustainable growth of India's burgeoning art market. This year's program will encourage young collectors to interact with young artists from outside urban India in order to foster a sense of pan-Indian community among the next generation of patrons.
A special showcase at STIR, which promotes and disseminates creativity and innovation in design and architecture, will showcase the work of young artists in collaboration with Immerse, a young artist support program, and will also help revitalize Chhatarpur's Dhan Mill. This will be done. Fashion houses such as NorBlack NorWhite and Most Gods encourage young collectors to participate in the intersection of creative disciplines.
Can you recommend 5 must-see artists attending IAF?
It's difficult to choose five. I encourage everyone to come with an open mind and choose your favorites according to the art that speaks most powerfully to you. But keep an eye out for new young talent. They are artist-in-residence, the multi-talented Thamchampa Maku, mural and graffiti artist Katla, and feminist artist Mayuri Chali. and our digital artists-in-residence, Sadhna Prasad, Dhruv Jani, and Miles x Ameya, who are exhibiting their work in the Digital Residency Hub.
India Art Fair will be held from February 1st to 4th at NSIC Exhibition Center, New Delhi
