Despite a general art market downturn, the market for modern Indian art is experiencing an extraordinary boom. Over the past two weeks, specialized auctions at Christie’s in New York, Saffron Art in New Delhi, Pundole’s in Mumbai, and Sotheby’s in London all sold out. Sotheby’s London sale raised £19 million, more than five times its estimate, led by record-breaking paintings by Francis Newton Souza, including *Houses in Hampstead* (1962) which sold for £5.6 million. The article traces Souza’s rebellious career, his founding role in the Progressive Artists’ Group, his struggles with obscenity charges, and his eventual posthumous market resurgence.
This boom matters because it signals a major shift in the global art market’s focus toward non-Western modernists, particularly mid-20th-century Indian artists who broke with tradition. The sustained demand and record prices for artists like Souza, SH Raza, and MF Husain reflect growing international recognition and investment in Indian modernism, challenging the narrative of a broad market recession. It also highlights how previously marginalized artists are being reappraised, reshaping the canon and offering new opportunities for collectors and institutions.