It looks like recession is finally behind the art market. Though it’s still not boom time — like the one that existed about two years ago — artists say they have left recession and the negatives associated with it behind. The first sign is that contemporary Indian artists, who were hit hard by recession, have started showing their works in India as well as abroad. Artists like Jitish Kallat and Baiju Parthan’s solo shows, which were postponed due to recession, have started showing now. So has artist Atul Dodiya who is having a solo show in New Delhi.
Baiju says, “Though things are looking up, no one is expecting the same kind of price boom we experienced in the past.”
Gallery owner Abhay Maskara adds, “I am seeing renewed interest in art. We are clearly out of the lowest point and things are looking good now. But we are still nowhere near the level of boom.”
Even Atul asserts that things are looking better and he is excited that a lot of good art shows are happening. He says, “Artists are churning out good, interesting works. Things are going at a good pace, especially for me.”
Giving a global perspective, Meneka Kumari Shah from Christie’s believes that the market is gaining confidence. She says, “The market outlook is confident and is underpinned by the returning dominance of private buyers, from the Americas, the Middle East, as well as Asia.”
