The subcontinent's art market is estimated to be worth as much as 20 billion rupees. Above, visitors look at a car-like sculpture made out of material moulded in the shape of bones. Raveendran / AFP
The subcontinent's art market is estimated to be worth as much as 20 billion rupees. Above, visitors look at a car-like sculpture made out of material moulded in the shape of bones. Raveendran / AFP

Indian art market a rosy picture



The Indian art market is bucking a global trend of declining sales and hopes are high some expensive pieces will change hands at the India Art Fair in New Delhi this week.

More than 100,000 people are expected to attend the event, due to be held from Wednesday to Sunday.

Exhibiting galleries are hoping for robust sales and continued interest from wealthy domestic buyers, thereby fuelling the country's art market, estimated to be worth as much as 20 billion rupees (Dh1.46bn).

Although globally art sales are down, India is showing surprising resilience.

"The Indian art market boomed very, very fast and is now more mature, more stable. Indians have the money and the potential to become serious collectors," says As Bhavna Kakar, the owner of Latitude 28 gallery in New Delhi.

"In fact, galleries such as mine have survived the recession purely through selling to local Indian collectors. If the market can sustain us through local consumption these last four years, then you know that the Indian market has good potential for international galleries."

Each gallery pays about Dh1,310 per square metre to have a booth at the fair, on which just under Dh7 million is spent on advertising and Dh14m on public relations throughout the year, done mostly "through barters and partnerships with media companies", according to Neha Kirpal, 31, the energetic founder of the event, now in its fourth year.

The fair makes money through corporate sponsorship and the sale of floor space. This year, 26 museum groups from across the world are scheduled to visit. Half of the 90 exhibitors are Indian galleries and half are international - from South Africa, Latvia, Portugal, France and the UK, among other countries.

The event has come a long way since 2008 when fewer than 10,000 people visited and many in the art establishment told Ms Kirpal she was foolhardy to attempt to run an art fair in a poor, chaotic country with a minuscule art market.

Undeterred, Ms Kirpal, who has a master's degree in marketing from the University of the Arts, London, wrote an initial business plan on an air-sickness bag on a flight from Delhi to Mumbai.

She took out a personal loan of about Dh150,000 and founded the fair. After losing money every year, she is "cash-neutral" this year, she says, thanks in part to an injection of funds from Will Ramsay and Sandy Angus, the co-founders of Art HK, an international event held in Hong Kong, who have bought a 49 per cent stake in India Art Fair.

Ms Kirpal used the funding to repay her loan.

It costs about Dh500,000 to organise the fair, she says. Sixty per cent of the operating budget goes towards renting the venue and 15 per cent goes to the production company.

Unlike mature art markets, many Indian buyers are speculators who come in with a lot of money but have little knowledge about art. The fair has launched a "collector's circle" to interest and educate novice but wealthy collectors. Members pay a fee of US$200 (Dh735) and are invited to events and lectures throughout the year.

"The art fair is a wonderful platform because it has brought together galleries, curators, artists, museums, non-profit organisations and auctioneers - but it still remains very commercial," says Maithili Parekh, the director of business development at Sotheby's India.

Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Dengue%20fever%20symptoms
%3Cp%3EHigh%20fever%20(40%C2%B0C%2F104%C2%B0F)%3Cbr%3ESevere%20headache%3Cbr%3EPain%20behind%20the%20eyes%3Cbr%3EMuscle%20and%20joint%20pains%3Cbr%3ENausea%3Cbr%3EVomiting%3Cbr%3ESwollen%20glands%3Cbr%3ERash%26nbsp%3B%3C%2Fp%3E%0A
The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

FIGHT CARD

Welterweight Mostafa Radi (PAL) v Tohir Zhuraev (TJK)

Catchweight 75kg Leandro Martins (BRA) v Anas Siraj Mounir (MAR)

Flyweight Corinne Laframboise (CAN) v Manon Fiorot (FRA)

Featherweight Ahmed Al Darmaki (UAE) v Bogdan Kirilenko (UZB)

Lightweight Izzedine Al Derabani (JOR) v Atabek Abdimitalipov (KYG)

Featherweight Yousef Al Housani (UAE) v Mohamed Arsharq Ali (SLA)

Catchweight 69kg Jung Han-gook (KOR) v Elias Boudegzdame (ALG)

Catchweight 71kg Usman Nurmagomedov (RUS) v Jerry Kvarnstrom (FIN)

Featherweight title Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)

Lightweight title Bruno Machado (BRA) v Mike Santiago (USA)

'My Son'

Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

COMPANY%20PROFILE%20
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COMPANY%20PROFILE
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The%20specs
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$1,000 award for 1,000 days on madrasa portal

Daily cash awards of $1,000 dollars will sweeten the Madrasa e-learning project by tempting more pupils to an education portal to deepen their understanding of math and sciences.

School children are required to watch an educational video each day and answer a question related to it. They then enter into a raffle draw for the $1,000 prize.

“We are targeting everyone who wants to learn. This will be $1,000 for 1,000 days so there will be a winner every day for 1,000 days,” said Sara Al Nuaimi, project manager of the Madrasa e-learning platform that was launched on Tuesday by the Vice President and Ruler of Dubai, to reach Arab pupils from kindergarten to grade 12 with educational videos.  

“The objective of the Madrasa is to become the number one reference for all Arab students in the world. The 5,000 videos we have online is just the beginning, we have big ambitions. Today in the Arab world there are 50 million students. We want to reach everyone who is willing to learn.”

Company%20Profile
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COMPANY%20PROFILE
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Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

  • For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
  • If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
  • Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
The biog

Hometown: Birchgrove, Sydney Australia
Age: 59
Favourite TV series: Outlander Netflix series
Favourite place in the UAE: Sheikh Zayed Grand Mosque / desert / Louvre Abu Dhabi
Favourite book: Father of our Nation: Collected Quotes of Sheikh Zayed bin Sultan Al Nahyan
Thing you will miss most about the UAE: My friends and family, Formula 1, having Friday's off, desert adventures, and Arabic culture and people
 

SPECS
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Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
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SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

2024%20Dubai%20Marathon%20Results
%3Cp%3E%3Cstrong%3EWomen%E2%80%99s%20race%3A%3C%2Fstrong%3E%0D%3Cbr%3E1.%20Tigist%20Ketema%20(ETH)%202hrs%2016min%207sec%0D%3Cbr%3E2.%20Ruti%20Aga%20(ETH)%202%3A18%3A09%0D%3Cbr%3E3.%20Dera%20Dida%20(ETH)%202%3A19%3A29%0D%3Cbr%3EMen's%20race%3A%0D%3Cbr%3E1.%20Addisu%20Gobena%20(ETH)%202%3A05%3A01%0D%3Cbr%3E2.%20Lemi%20Dumicha%20(ETH)%202%3A05%3A20%0D%3Cbr%3E3.%20DejeneMegersa%20(ETH)%202%3A05%3A42%3C%2Fp%3E%0A
Ovo's tips to find extra heat
  • Open your curtains when it’s sunny 
  • Keep your oven open after cooking  
  • Have a cuddle with pets and loved ones to help stay cosy 
  • Eat ginger but avoid chilli as it makes you sweat 
  • Put on extra layers  
  • Do a few star jumps  
  • Avoid alcohol   
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
Company%20Profile
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Heather, the Totality
Matthew Weiner,
Canongate 

All%20We%20Imagine%20as%20Light
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EPayal%20Kapadia%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Kani%20Kusruti%2C%20Divya%20Prabha%2C%20Chhaya%20Kadam%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Call of Duty: Black Ops 6

Developer: Treyarch, Raven Software
Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5

The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

On sale: Now

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

Confirmed%20bouts%20(more%20to%20be%20added)
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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

MATCH INFO

West Ham United 2 (Antonio 73', Ogbonna 90 5')

Tottenham Hotspur 3 (Son 36', Moura 42', Kane 49')

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Andor
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While you're here

Michael Young: Where is Lebanon headed?

Kareem Shaheen: I owe everything to Beirut

Raghida Dergham: We have to bounce back

Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

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ASSASSIN'S%20CREED%20MIRAGE
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