The Financial Times previews the Indian Art Summit that launches on January 21 in New Delhi:
Now in its third year and spanning four days (including a VIP and press preview on January 20), the summit has steadily grown in size. When its doors open on January 21, 84 galleries from 20 countries will show the works of an estimated 500 artists. As many as 60,000 visitors are expected to attend, compared to 40,000 in 2009. In 2008, fewer than 10,000 people came, and sales were little more than Rs100m. […]
The fair, though still in its infancy, struck commercial success early with its mix of works from India and around the world. In 2009, when it was held in August and at a time of cooling art prices, just over half of the works on display were sold, generating about $5.4m. About 40 per cent of these sales were to first-time buyers, showing the curiosity and spending power of a new market.
India’s Art Summit (Financial Times)