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India’s #Art Market Is Thriving—Here’s Why

India’s economy has expanded rapidly in recent decades, with the International Monetary Fund’s World Economic Outlook projecting India to become the third-largest economy in the world in less than five years, leapfrogging the U.K., Germany, and Japan, and right behind the U.S. and China.

A fast-growing economy purportedly leads to an increased desire to collect and invest in Western art within Asian art markets. Hence, it is not surprising that Mumbai—where much of the country’s wealth is concentrated—launched its own major art fair, Art Mumbai, last November.

Source: India’s Art Market Is Thriving—Here’s Why | Artsy