Bikash
Choudhury
The chit fund scams have recently taken a heavy toll of
Politicians, Real Estate Magnets, Media Barons, Stock Brokers and Models from
Bollywood most of whom are cooling their heels behind the bars; while scores of
unscrupulous small investors have lost their hard earned savings of life time
in pursuit of very high returns on their investments. A large mass of people
explored investment options in Yellow metal, Commodity futures, Land Banks and
Mutual Funds. However, investments in ‘Modern Art’ has been largely ignored by
our investor community due to lack of awareness and absence of Institutional
arrangement in the city of Bhubaneswar .
In last decade the bench strength of highly earning young people and double income
families have grown in leaps and bounds courtesy mushrooming growth of ICT
Industry in the city. These tech nerds generally invest their surplus in real
estate, stocks & mutual fund and also blow up a little fortune in food,
fashion and rave parties. These potential investors can be attracted to invest
in ‘Modern Art’ for a decent return and also to sprinkle some aesthetic value
in their mundane lives. Institutional arrangements are critical to develop a
vibrant market for modern art in the city. There is a need for an ‘Art Fund’
that would invest in modern art works and promising artist who could throw up
exceptional art work for a Global audience, an auction house that could
monetize the investments in modern art of potential investors and a reputed art
gallery that displays diverse art works of reputed artist for the primary
purchase of art work for homes, office and also as short & long term
investment. Bhubaneswar City Orissa
Modern Art Gallery
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