According to The Fine Art Fund experts, the size of the Indian art market has grown from US$2 million to approximately US$400 million in the last seven years. I think the surge could be due to aesthetic or visual appeal + affordable prices + the internet. Most upcoming double-income middle class families purchase art works to decorate their drawing rooms. The internet is definitely changing the commerce of art in India + more virtual e-shops may be the next big thing to happen in the thriving art market.
Useful links:
http://artpanache.com
www.thefineartfund.com
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