A major result of the liberalisation of the Indian economy in 1991 was a surge in economic and cultural exchange between India and the world. Globalisation ushered in a sharp increase in the prices and sales of Indian art during the Indian Art Boom of the early 2000s. The Boom period established the careers of several emerging artists in India following the work of writers like Geeta Kapur, who laid out a historical backdrop of Indian Modernism. This sparked an academic interest in cultural production amidst the newly opened, fast-growing Indian economy, allowing for financial speculation on contemporary Indian art. Due to the rapid changes in the commercial infrastructure for Indian art, the Boom period is often criticised as the beginning of an era of opportunism, exclusivity and elitism in the Indian art community.
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